Japan allows oil sales

22.11.2021

The Japanese government may authorize the sale of oil from reserves.

This decision is intended to stabilize prices for this type of fuel. Meanwhile, some politicians opposed the adoption of such measures: despite the fact that the country’s legislation allows the use of oil reserves in the event of a natural disaster or a lack of supply due to global market problems, Japan has never released safety stocks in response to price increases.

According to the agency’s sources, in case of a positive government decision, this process will probably be carried out in cooperation with the United States.