Japanese Economy, Industry and Trade Minister Koichi Hagiuda said that Japan has decided to sell its 7.5 million barrels of reserves.
“After the US, we decided to release 7.5 million barrels and continue negotiations with oil producing countries to increase production,” Kyodo news agency quoted him.
On Tuesday evening, members of the International Energy Agency’s board of directors agreed to release 60 million barrels of emergency reserves to “send a unified and compelling message to global oil markets.”
The OPEC secretariat also confirmed on Wednesday that the countries of the “OPEC+” group have agreed to increase oil production by 400,000 barrels per day in April 2022.
Source: RIA Novosti
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