CORRECTED: UPDATE2: Japan mulls oil reserves release with U.S. to stabilize prices

Politics Economy

Japan is considering releasing oil from its reserves along with the United States and other countries to help curb rising crude oil prices, Prime Minister Fumio Kishida said Saturday. "We are considering what we can do," Kishida told reporters in the western Japan city of Matsuyama, when asked about the possibility, as surging prices of gasoline and other fuel products are squeezing households and companies that have already been hit hard by the coronavirus pandemic. There are, however, voices in the Japanese government cautioning against releasing oil reserves at times other than supply short...

Kyodo News

Kyodo News