Japan to auction 4.8 million barrels of national reserve oil on May 10

An auction will be held on May 10 for about 4.8 million barrels of crude oil from three reserve bases in Japan as part of a coordinated effort by the International Energy Agency to stabilize the market amid Russia's invasion of Ukraine. | KYODO

Japan will hold an auction on May 10 to sell 760,000 kiloliters, or 4.8 million barrels, of national reserve oil, the industry ministry said on Friday, as part of a release coordinated by the International Energy Agency (IEA) to cool rising prices. Prime Minister Fumio Kishida had said earlier this month that Japan would release

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