Japan Releases Second Round of National Oil Reserves Amid Tensions in the Middle East
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Amid worsening tensions in the Middle East, Japan's Agency for Natural Resources and Energy has begun releasing its second round of national oil reserves today. A total of 5.8 million kiloliters, equivalent to about 20 days of domestic consumption, aims to stabilize the oil supply. These reserves will be sold to four major oil companies for approximately 540 billion yen.