Japan to release oil from state and private reserves

News Department
Author

Japan will release 15 million barrels of oil from state and private reserves as part of a second round of the coordinated release led by the International Energy Agency (IEA), Report informs, citing foreign media.

It will mark Japan’s biggest contribution ever to the IEA-led action.

IEA states agreed to tap 60 million barrels of oil from storage, the director of the group said on Wednesday, on top of a 180 million-barrel release announced by Washington last week aimed at cooling prices after Russia’s military actions in Ukraine.

Other News

Minister: Bulgargaz exists thanks to contract with Azerbaijan 24 February, 2026 / 17:09
SOCAR, UK's Wood discuss cooperation in digitalization 24 February, 2026 / 16:49
Azerenergy signs green energy memorandum for WUF13 24 February, 2026 / 16:13
Azerbaijan, Iran discuss hydropower projects and electricity exports 24 February, 2026 / 13:52
Gas prices in Europe fall to $385.6 24 February, 2026 / 12:34
Azerbaijani oil price surpasses $73 24 February, 2026 / 10:00
Baku hosts performance leadership forum for SOCAR's top management 23 February, 2026 / 16:28
AzerEnerji, IRIA agree on digitalization cooperation 23 February, 2026 / 16:09
Wind power generation in Azerbaijan surges almost 22-fold 23 February, 2026 / 14:29
Azerbaijan Energy Ministry signs deals for solar power plants in Nakhchivan 23 February, 2026 / 13:44
Gas prices in Europe fall 3.5% 23 February, 2026 / 13:09
Oil prices fall over 1% 23 February, 2026 / 10:02
Kyiv suggests EU use Odessa-Brody oil pipeline instead of Druzhba 21 February, 2026 / 16:19
Azerbaijani oil prices fall slightly 21 February, 2026 / 10:08
Volume of oil transported via BTC surpassed 2M tons in Jan.2026 20 February, 2026 / 18:03
Transportation via Baku-Tbilisi-Erzurum pipeline increased by over 15% 20 February, 2026 / 17:27
Azerbaijan's commercial gas production up nearly 9% 20 February, 2026 / 17:23
MOL's capital spending in Azerbaijan tops $123 million in 2025 20 February, 2026 / 16:26
MOL boosts hydrocarbon production in Azerbaijan by 5.5% in 2025 20 February, 2026 / 16:04
Energy minister: Moldova open to participating in Black Sea Green Energy Corridor - INTERVIEW 20 February, 2026 / 15:33