Japanese PM Takaichi says to start releasing part of its oil reserves as early as on March 16; to release 15 days worth of private sector oil reserves and one month worth of state oil reserves

The decision by Japanese PM Takaichi to release part of the nation's oil reserves ahead of the IEA's formal decision indicates a proactive stance to manage domestic energy prices, particularly gasoline. By aiming to stabilize prices at JPY 170 per litre, this move reflects concerns over inflation and could influence global oil supply dynamics, especially if it signals a trend among other countries to take similar actions amidst rising energy costs.