Japan intends to sell about 100,000 kiloliters, or 629,000 barrels, of Oman crude oil from its national petroleum reserves held at its Shibushi national petroleum reserves terminal in the southwest via tender in February 2022, part of joint efforts with the US and other countries to stabilize oil prices. The sell tender, scheduled to be .
Japan’s industry ministry said on Monday it will hold an auction on February 9 to sell about 100,000 kilolitres, or 628,980 barrels, of crude oil from its national reserve as part of a U.S.-led coordinated release of oil reserves aimed at cooling rising prices. The supply, to be taken from its Shibushi tank in southwestern .
Japan kicked off the sale of oil from its strategic reserves in a bid to combat rising prices, joining an unprecedented coordinated release of crude from strategic stockpiles that’s been led by the US.