Prime Minister Sanae Takaichi announced that Japan will release 20 days’ worth of oil reserves from May to maintain domestic supply and seek non-Middle East barrels amid global supply disruptions.

Although the U.S. and Iran have reached a two-week ceasefire, Iran has not yet lifted its near-total blockage of the Strait of Hormuz, causing unprecedented disruption to world energy supply.

Japan gets 95% of its oil from the Middle East. On March 16, it released reserves unilaterally and with other governments to provide adequate oil for 50 days. The 20 days are extra.
Japan had 228 days of oil supplies, including 143 days in its public stockpile, as of April 7.

Japan will release oil stockpiles unilaterally, but will collaborate with the International Energy Agency, according to Narumi Hosokawa, deputy director-general for rapid crisis management at the Ministry of Economy, Trade, and Industry.

Takaichi requested a coordinated release of oil reserves from IEA chairman Fatih Birol last month.
Japanese oil imports from the U.S., its closest friend, would increase by four times in May compared to last year, according to a METI paper released on Friday.

Japan imported 189,000 barrels of oil per day from the U.S. in May, accounting for 8% of its total crude oil purchases. U.S. officials have urged Japan to increase its purchases. METI reports that Japan has approached suppliers in Malaysia, Azerbaijan, Brazil, Nigeria, and Angola.