Japan to speed oil reserve release by skipping bidding for distributors

Japan to speed oil reserve release by skipping bidding for distributors

Energy

Private stockpile being tapped to fill gap before drawdown of national reserves

Japan stores its national oil reserves at sites distributed throughout the country. © Kyodo

TOKYO — Japan is set to start distributing oil reserves from the private sector as early as Monday, with national stocks expected to follow between late March and early April, using negotiated contracts rather than bidding to streamline the process.

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