Japan urges higher oil reserves

Japan has emphasized that strengthening oil reserves and expanding coordination among producing and consuming countries are essential to counter the risks of oil supply disruptions, especially in light of tensions in the Middle East. It called for improvements to infrastructure to increase reserves and the establishment of mechanisms for coordinating emergency drawdowns, within the framework of the 11 countries in the "Asia Community Without Emissions" group. This move comes at a time when Asian economies heavily rely on oil imports, making them vulnerable to price increases and bottleneck costs, and represents a strategy to ensure energy security while continuing the transition toward cleaner energy sources.

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