URGENT: Japan to release hundreds of thousands of kiloliters of reserve oil

Politics Economy

Japan will release hundreds of thousands of kiloliters of crude oil from its emergency reserves, industry minister Koichi Hagiuda said Wednesday. The move comes as the country seeks to address rising prices in tandem with the United States and other major energy-consuming countries. Earlier Wednesday, Prime Minister Fumio Kishida announced the measure in what will be the first time Japan has tapped state-owned reserves in an attempt to lower prices.

Kyodo News

Kyodo News