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Japan supports IEA proposal for coordinated oil stocks release, details to be worked out

ReutersMar 10, 2026 8:23 AM

- Japan supports an idea of the International Energy Agency for coordinated release of strategic oil reserves, Industry Minister Ryosei Akazawa said on Tuesday, but details of the potential release remain under discussion.

Akazawa said that the energy ministers of the Group of Seven plan to hold a meeting later on Tuesday to discuss details of a potential oil release, which he said was an effective tool to stabilise the oil market as Iran war disrupts global supplies.

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