Japan Set for Record Oil Reserve Release

Plans for Release

Oil prices are surging as the situation in the Middle East deteriorates following Israeli and US strikes on Iran. Japan depends on the region for more than 90% of its oil, and Iran’s effective blockage of the Strait of Hormuz, preventing tankers from passing through, has led to mounting supply concerns. Prime Minister Takaichi Sanae responded on March 11, 2026, by announcing plans to release 45 days’ worth of oil, amounting to almost 20% of the nation’s reserves, from March 16 onward.

To prevent a shortfall in supply from causing upheaval in Japan, whether due to political unrest or major disaster overseas, private-sector actors have held oil reserves from fiscal 1972 onward, and the national government has maintained reserves since fiscal 1978.

As of December 31, 2025, Japan’s state reserves held oil equivalent to 146 days’ consumption, while private-sector reserves held 101 days’ worth, and joint reserves with oil-producing countries had 7 days’ worth. This adds up to 254 days’ worth of oil overall, or 470 million barrels.

The largest previous release was 25 days’ worth after the 2011 Great East Japan Earthquake, but the latest one is far greater. Following Takaichi’s announcement, International Energy Agency member countries also agreed on a record coordinated release of 400 million barrels from reserves. However, oil prices continue to soar, as protracted instability in the Middle East appears likely.

Past Oil Reserves Releases

Created by Nippon.com based on data from the Agency for Natural Resources and Energy and the Petroleum Association of Japan.

Data Sources

• Data on Japan’s oil reserves (Japanese) from the Ministry of Economy, Trade, and Industry
• Data on Japan’s oil reserve system (Japanese) from the Petroleum Association of Japan

(Translated from Japanese. Banner photo: Oil storage tanks at Shibushi National Oil Storage Base in Kagoshima Prefecture. © Jiji.)