Open Demo Account
Home / Market Update / Global Stock Market / Kyodo: Japan will withdraw 15 million barrels of oil reserves

Kyodo: Japan will withdraw 15 million barrels of oil reserves

Adel 7 April, 2022 3:24 pm Global Stock Market, Market Update

Japan will withdraw 15 million barrels of state and private oil reserves as part of the second round of a coordinated withdrawal process led by the International Energy Agency, Kyodo News Agency said on Thursday.

Kyodo said the move would mark Japan’s largest-ever contribution to the process led by the International Energy Agency.

And the Executive Director of the Agency said on Wednesday that member states agreed to withdraw 60 million barrels of oil stocks, in addition to the 180 million barrels that Washington announced last week to withdraw from its stocks with the aim of calming prices after the Russian invasion of Ukraine.

Tags

Check Also

GBP/USD Rallies as bulls aim for YTD high

During the North American session on Friday, the GBP/USD pair recovered from its losses on …

This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends