Japan to release extra 20 days' worth of oil reserve from May

TOKYO - Japan plans to release an additional 20 days' worth of oil reserves starting in early May at the earliest, Prime Minister Sanae Takaichi said Friday, amid uncertainty over the reopening of the Strait of Hormuz despite the U.S.-Iran ceasefire deal.

The plan was revealed at a ministerial meeting to address the Middle East situation and will follow the nation's ongoing release of some 50 days' worth of oil to the market, which began in mid-March, from reserves held by the state, the private sector and oil-producing Gulf countries.