Earlier, the administration of US President Joe Biden made an appeal to Asian countries, including Japan and China
Japanese Prime Minister Fumio Kishida
The Japanese authorities will sell part of their oil reserves from their strategic reserves, the Prime Minister said Minister of the country Fumio Kishida, reports Nikkei. A day earlier, US President Joe Biden also announced the sale of 50 million barrels. oil from the country's strategic reserves.
“ We decided to keep up with the United States and sell some of the nation's oil reserves in a way that does not violate the current oil reserves law, '' & mdash; Kishida said.
According to the prime minister, the main purpose of the sale of reserves is to stabilize gasoline prices. However, he did not specify the volume of reserves that will be sold, and the timing of this process.
A day earlier, Nikkei, citing sources, reported that after the US decision, the Japanese government intends to sell about 4.2 million barrels. oil. The tender for the sale will take place before the end of the year, the publication specified.
According to the Agency for Natural Resources and Energy of Japan, as of the end of September, strategic oil reserves in the country are 145 days of daily consumption. At the same time, the statutory limit & mdash; 70 days or more.
On November 18, Reuters reported that the United States had asked several Asian countries to release some of its strategic oil reserves in order to put pressure on OPEC to bring prices down. According to the agency, the Biden administration has made a request to large consumers & mdash; Japan, South Korea, India and China.
Earlier, at the end of October, Biden called on OPEC + to increase oil production. According to him, as a result of the restriction of oil production in the United States, gasoline prices are growing. “ The rising cost of gasoline is hitting working-class families. Gasoline is needed so that they can take the children to school, for school buses to run, '', & mdash; he pointed out.
Nevertheless, OPEC + members did not increase oil production and decided to adhere to the existing agreements. The organization also confirmed the operation of a mechanism to compensate for production that has not been reduced until the end of 2021.
Despite Biden's yesterday's decision to “ print out '' strategic fuel reserves, the cost of a barrel of Brent not only did not decrease, but even grew by $ 1.
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