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Japan PM confirms oil reserve sales in reply to U.S. request

Auctions for less than 1% of nation's stockpile may be held by year-end

Japanese Prime Minister Fumio Kishida responds to reporters after announcing that Japan will release oil in an attempt to lower prices. (Photo by Uichiro Kasai)

TOKYO (Reuters) -- Japan's Prime Minister Fumio Kishida said on Wednesday his government would release some oil reserves in response to a U.S. request in a way that does not breach a Japanese law that only allows stock releases if there is a risk of supply disruption.

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