Japan poised to tap national petroleum reserve for first time

Tokyo ready to act with the U.S. and other countries, Kishida says

These oil tanks in northern Japan's Akita Prefecture are part of the national petroleum reserve.

JUNTARO ARAI, Nikkei staff writer

November 20, 2021 23:51 JST

TOKYO -- Japan is weighing a release of crude oil from its national petroleum reserve, Prime Minister Fumio Kishida said Saturday, an unprecedented move in response to a U.S. call for action against high energy prices.

"We are examining our legal options on the understanding that this would be coordinated action by Japan, the U.S. and partner countries," Kishida told reporters during a visit to the city of Matsuyama.