Japan announced this Wednesday (11) that it will place part of its strategic oil reserve on the market, with the aim of containing the energy crisis caused by the war in the Middle East.
According to the announcement made by Prime Minister Sanae Takaichi, the country plans to mobilize a volume equivalent to one month of state reserves and 15 days of stock held by private companies.
These reserves are accumulated over years and are considered strategic precisely because they help to face moments of instability like the current one. Around 95% of the oil consumed by Japan comes from the Middle East, which makes the country especially vulnerable to crises in the region.
The price of gasoline in the country has already reached its highest level since December.
