Japan's strategic oil reserves rise by 3 days of consumption in July

In July, Japan's strategic crude oil reserves increased to a level equivalent to 202 days of domestic consumption, despite the ongoing Iran conflict. This rise followed a decline in stockpiles to just 168 days in June, marking a decrease of four days from the previous month. The situation had worsened, with reserves falling by 27 days in April and five days in May.

As of August 1, the total reserves, encompassing both public and private stocks as well as joint holdings with oil-producing nations, amounted to 202 days of consumption. There have been no decisions to release additional reserves since May. Japan continues to rely heavily on Middle Eastern sources for its crude oil needs, with 94 percent of its imports coming from this region in 2025.