For the first time in history! Japan releases its national oil reserves at the request of the United

Original title: the first time in history! Japan releases its national oil reserves at the request of the United States
Edited by: Huang Sheng
Beijing, Nov. 24 (Xinhua) according to the Japan Broadcasting Association (NHK) reported on the 24th, in view of the continuous rise in crude oil prices, the Japanese government has decided to accept the request of the U.S. government and release the national reserve oil for the first time.
Under pressure, Japan released its national oil reserves for the first time
It is reported that by the end of September, Japan's national oil reserves could meet 145 days of domestic consumption demand. At present, the Japanese government tentatively will release the amount of "several days", and whether to release additional is still under discussion.
Japanese law stipulates that the release of reserve oil can only be carried out in case of insufficient gasoline supply or natural disasters. However, due to the reduction of domestic oil demand in Japan, the Japanese government judged that releasing the surplus would not violate the law.
It is reported that Japan's last "oil release" was in June 2011. At that time, affected by the deterioration of the situation in Libya, Japan released some private reserves, but it was the first time to release national reserves.

(photo source: photo network 401697161)
International crude oil futures prices continued to rise to a one week high
The announcement of the release of strategic oil reserves by the United States did not reverse the rising trend of international oil prices.
On the 23rd, the price of international crude oil futures rose significantly. On the same day, the price of New York light crude oil futures for delivery in January 2022 rose by US $1.75 to close at US $78.50 per barrel, or 2.28%. London Brent crude oil futures for delivery in January 2022 rose by US $2.61 to close at US $82.31 per barrel, or 3.27%.

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