Tokyo: Japan welcomed the decision made by the International Energy Agency (IEA) on Wednesday to implement a collective release totaling 400 million barrels of oil by member countries to address the deterioration in crude oil market conditions resulting from curtailment of crude oil production and exports in the Middle East.
According to United News of Bangladesh, Japanese Foreign Minister Motegi Toshimitsu emphasized the importance of ensuring a stable energy supply for both the global and Japanese economies. He noted that Japan would continue its diplomatic efforts to de-escalate the situation in the Middle East while working with international organizations, such as the IEA, to secure energy stability.
The Foreign Minister highlighted Japan’s commitment to timely responses for maintaining a stable energy supply, in collaboration with major consumer and oil-producing countries. This collective release demonstrates the determination of IEA member countries to act in solidarity to underpin daily life and stabilize the market.