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Japan plans to release 20 days’ worth of oil reserves from May, prime minister Sanae Takaichi told a cabinet meeting on Friday, to ensure stable domestic supply as conflict in the region continues disrupts global supply.
Japan is dependent on the Middle East for around 95% of its oil. It began releasing reserves on March 16 unilaterally and in coordination with other nations under a plan to make available enough oil to last 50 days. The new release of 20 days worth is additional.
