Japan has taken an extraordinary step in energy crisis management, announcing the release of approximately 80 million barrels from its strategic oil reserves — the largest such action in the nation’s history. Prime Minister Sanae Takaichi made the announcement via X, confirming that releases from state-owned stocks would begin this week. Together with a separately approved release of private-sector reserves, the move is designed to protect Japan’s refining sector and consumers from disruption caused by the US-Israel conflict with Iran. With the Strait of Hormuz under threat, Japan’s energy security apparatus has been put on full alert.
Japan’s structural dependence on Middle Eastern oil creates unique vulnerabilities. The country imports over 90% of its crude oil from the region and has virtually no significant domestic production. A sustained blockage of the Strait of Hormuz could effectively cut the country off from its primary fuel source. Tokyo has approached the crisis diplomatically, with Takaichi rejecting Trump’s request to send naval forces to the region and instead pledging intensive multilateral diplomatic engagement.
The current drawdown is historically significant. It exceeds Japan’s largest previous emergency release — made after the 2011 Fukushima disaster — by a factor of 1.8. Japan’s total oil reserves are around 470 million barrels, covering roughly 254 days of domestic consumption. While large, the current release is structured to ensure the country’s long-term stockpile position remains manageable.
The government has also shielded consumers from price spikes, introducing subsidies that cap gasoline at ¥170 per litre. This followed retail prices hitting a record ¥190.8. Subsidies are subject to weekly revision based on oil price movements, giving the government flexibility to respond to market changes. The policy package reflects a full-spectrum government response to a rapidly evolving energy emergency.
Panic over potential shortages has led to social media speculation and some hoarding of household goods including toilet paper. Officials have countered this firmly, noting that Japan produces 97% of its own toilet paper from domestic recycled materials. Industry representatives confirmed that supply chains are stable and capacity exists to increase output if demand rises. Authorities are working hard to prevent irrational fear from amplifying the genuine challenges posed by the global energy crisis.
