Japan starts oil release from private petroleum reserves in IEA joint effort

Japan said it started March 10 releasing a total of 7.5 million barrels of oil from privately-held petroleum reserves as part of its contribution to the International Energy Agency’s coordinated release of a total 60 million barrels to calm crude oil prices rattled by Russia’s invasion of Ukraine. Japan is releasing 7.5 million barrels of crude and oil products, which…