TOKYO, May 1 (Xinhua) -- Japan started an additional release of about 20 days' worth of oil reserves on Friday to ensure stable domestic supplies, which have been disrupted by the Middle East conflict.
The move follows an initial mid-March release of some 50 days' worth of oil from reserves held by the state, the private sector, and oil-producing Gulf countries.
The second release will free up 5.8 million kiloliters, worth 540 billion yen (about 3.45 billion U.S. dollars), Kyodo News reported.
The national reserves will be supplied from 10 storage bases across the country to four major oil wholesalers.
Resource-poor Japan relies on the Middle East for more than 90 percent of its crude oil imports, most of which are shipped through the Strait of Hormuz, a vital waterway for global oil supply.
The prolonged disruptions in the strait amid the Middle East conflict have prompted Japan to tap into its oil reserves and diversify its energy suppliers and shipping routes. ■