Japan Working on Release of Oil Reserves after US Request, Sources Say

Japanese officials are also looking at private stocks that are part of the national reserve.

Ritsuko Shimizu, Yoshifumi Takemoto and Aaron Sheldrick, Reuters

Japanese officials are working on ways to get around restrictions on releasing national reserves of crude oil in tandem with other major economies to dampen prices, four government sources with knowledge of the plans told Reuters.

While Prime Minister Fumio Kishida signaled his readiness over the weekend following a request from Washington, the world's fourth-biggest oil buyer is restricted on how it can act with its reserves—made up of both private and public stocks—which typically can only be used in times of shortage.

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