Global Trade Alert
Global Trade Alert

Japan: National crude oil reserves released to four domestic refiners

Announcement

24 Mar 2026

In March 2026, the Japanese government released national petroleum reserves under Article 31 of the Petroleum Stockpiling Act to four domestic refiners: ENEOS, Idemitsu Kosan, Cosmo Oil, and Taiyo Oil. The measure aims to secure a stable petroleum product supply amid a decline in crude oil imports from the Middle East following the effective closure of the Strait of Hormuz.

Source

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Number of interventions

1

1 certainly harmful

0 likely harmful

0 liberalising

List of interventions

Implementation date

26 Mar 2026

Revocation date:

No revocation date

Announced: 24 Mar 2026
Production subsidy In force

Recent update from 25 Mar 2026:

On 24 March 2026, the Japanese government released national petroleum reserves under Article 31 of the Petroleum Stockpiling Act to four domestic refiners: ENEOS, Idemitsu Kosan, Cosmo Oil, and Tai...

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