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Japan to sell 4.7mbbls of crude from reserves

OIL

Japan to sell 4.7mbbls of crude from national oil reserves in June

  • Crude oil will be sold via tenders on 10th June as part of its contributions to the IEA strategic release agreement.
  • Japan has already sold 4.78mbbls of Hout crude oil via three public tenders on 10th May.
  • Once completed, Japan will have fulfilled its 15mbbls IEA commitment. They will have released 9mbbls from its national petroleum reserves and 6mbbls from privately held oil reserves. Private reserves are released by local refiners and oil product importers reducing stockpiles between 16th April 16 and 8th Oct.

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