Ekonomické zprávy
22.11.2021

Japan is considering opportunities to release national oil reserves

Four government sources reported that Japanese politicians are trying to find ways to circumvent restrictions related to the release of national crude oil reserves in order to lower oil prices.

At the weekend, Japanese Prime Minister Fumio Kishida expressed readiness to release national oil reserves, but noted that there are regulatory obstacles. He stated that according to the laws of Japan, national reserves can usually only be used in times of shortage.

According to one source, one option to circumvent the legal restriction is to release part of the state reserves in excess of the minimum amount.

Another source claims that the government is also considering private reserves, which are part of the national reserves and can be released without restrictions.

Meanwhile, Chief Cabinet Secretary Hirokazu Matsuno said a decision has not yet been made.

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