Highlights Lowering private reserves mandate by 13.5 mil barrels by Oct. 8 Extends earlier 7.5 mil barrels release by six months Japan will start on April 16 releasing 6 million barrels of oil from privately-held petroleum reserves as part of its 15 million barrels release in its joint effort with the International Energy Agency, the Ministry of Economy, Trade and Industry said April 15. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Japan’s 6 million barrels of oil release will be made by allowing local refiners and oil products importers to lower their stockpiles in the privately-held reserves by three days over April 16-Oct. 8, METI said in a statement. The move follows Japan’s April 7 announcement to release a total of 15 million barrels, including from the national oil reserves for the IEA’s largest ever stock release of 120 million barrels. Although Japan has […]