Overview
- IEA member countries agreed on March 11 to coordinate a release of up to 400 million barrels from strategic stocks, the largest such action on record.
- Japan will also conduct a unilateral release equal to about one and a half months of domestic consumption, with the drawdown targeted to begin around March 16, Prime Minister Sanae Takaichi said.
- Japan’s Defense Ministry confirmed the first domestic placement of the upgraded Type-12 ground-to-ship missile at the JGSDF Kengun garrison in Kumamoto on March 31 as part of its stand‑off arsenal rollout.
- The improved Type-12 has an estimated 1,000-kilometer range, and further stand‑off systems are slated for garrisons in Shizuoka, Ibaraki, Hokkaido and Miyazaki, while Kumamoto officials have sought more details ahead of a March 17 equipment display.
- IEA chief Fatih Birol cited serious and growing risks to oil supply such as potential disruptions around the Strait of Hormuz, and Reuters reported Israeli officials believe U.S. operations against Iran are not likely to end soon.