Japan to release 15 mil. barrels of oil reserves in IEA efforts

Japan will release an additional 15 million barrels of oil reserves in a coordinated effort by members of the International Energy Agency to stabilize the market amid Russia's invasion of Ukraine, the government said Thursday.The release, tapping both private and state reserves, will be one of the largest by the country. The IEA, consisting of 31 members, is moving ahead with a collective oil stock release of 120 million barrels, led by the United States.Prime Minister Fumio Kishida said Japan's contribution is the second largest after 60 million barrels from the United States."Japan will d…READ FULL ARTICLE