The Japanese government plans to sell crude oil from national reserves at prices from before the Iran war. Officials expect refiners buying at these low prices will not then sell their products at higher rates to pocket extra profits.
The Japanese government announced on March 13, 2026, that it will sell crude oil from national reserves at prices prevailing before the Iran war. This initiative aims to address surging market prices, with officials stating they "expect refiners that purchase crude at low prices won’t then sell their products at higher prices and pocket the profit."
Keywords associated with the announcement include Ryosei Akazawa, though his specific role is not detailed in available information. Amid tensions involving Iran impacting global oil markets, the decision seeks to stabilize energy supplies in Japan. The government's statement suggests this could help ease burdens on consumers, but no specifics on sales volume or timelines were provided.
This policy forms part of Japan's broader strategy to counter international oil price fluctuations and bolster domestic energy security.
