Highlights Allowing refiners, importers to lower stockpile by 4 days until April 8 Japan’s oil release equates to 12.5% of IEA’s total oil release Japan said it started March 10 releasing a total of 7.5 million barrels of oil from privately-held petroleum reserves as part of its contribution to the International Energy Agency’s coordinated release of a total 60 million barrels to calm crude oil prices rattled by Russia’s invasion of Ukraine. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Japan is releasing 7.5 million barrels of crude and oil products, which equate to four days of mandatory stockpile volumes, by allowing local refiners and oil product importers to lower their stockpiles in the privately-held reserves by four days. In its bulletin issued by Minister of Economy, Trade and Industry Koichi Hagiuda March 10, Japan has allowed refiners, oil product importers to lower their mandatory […]