Japan releases strategic oil reserves amid Middle East supply crisis

March 26, 2026 (MLN): Japan has begun tapping into its national oil reserves in a major effort to stabilize energy supplies as tensions escalate due to the ongoing US-Israeli conflict with Iran.

The Japanese government initiated the release of state-held oil equivalent to about 30 days of domestic consumption roughly 8.5 million kiloliters with the process expected to continue through the end of April.

This move follows an earlier release of an additional 15 days’ worth of reserves from private sector stockpiles that started last week, as reported by APP.

The decision comes amid rising concerns over supply disruptions, as Japan depends on the Middle East for more than 90% of its crude oil imports.

The situation has worsened after Iran effectively blocked the Strait of Hormuz, a critical global oil transit route, in response to US and Israeli strikes launched on February 28.

In total, Japan plans to release approximately 80 million barrels of oil, covering around 45 days of national demand.

This marks the largest drawdown of reserves in the country’s history about 1.8 times greater than the amount released following the devastating 2011 earthquake and tsunami.

The energy crunch has already impacted consumers, with average gasoline prices hitting a record 190.80 yen per liter in mid-March. In response, the government has reinstated fuel subsidies to help ease the financial burden.

Meanwhile, the number of oil tankers reaching Japan via the Strait of Hormuz has sharply declined. The disruption is also affecting the chemical industry, which is struggling to secure naphtha, a key petroleum product used in the production of plastics and synthetic fibers.

Copyright Mettis Link News