Japan is considering an additional release of its national oil reserves in May, equivalent to approximately 20 days of its consumption, as crude oil imports have sharply declined due to the ongoing Middle East conflict, Japanese media reported on Sunday.
According to data from Japan's Ministry of Economy, Trade and Industry, Japan's total domestic oil reserves amounted to 254 days of consumption as of the end of 2025. Due to disruptions in passage through the strategic Strait of Hormuz, the Japanese government has already released approximately 80 million barrels of oil reserves since March 16, which is equivalent to 45 days of Japan's oil consumption. This marks the largest release since Japan established its national oil reserve system in 1978.
However, this release has not alleviated concerns within relevant industries about potential oil supply shortages. Some industry groups have called on the Japanese government for further oil reserve releases, with the medical sector specifically urging for a guaranteed supply of naphtha.
Naphtha, derived from crude oil processing, is a critical raw material for medical supplies such as gloves, syringes, and dialysis products. Industry insiders warn that if the current situation persists, Japan could face a "naphtha crisis" by June, endangering the health of a large number of patients.
Meanwhile, Japan is also actively seeking alternative routes for crude oil transportation that bypass the Strait of Hormuz, and is procuring crude oil from regions outside the Middle East. It is anticipated that crude oil imports in May will reach approximately 60 percent of the volume imported during the same period of last year, with the deficit expected to be covered by releasing national oil reserves. This plan is currently under discussion.
Japan's crude oil imports in March were approximately 52 million barrels, the lowest level since 2013. Most of the crude oil that arrived in March had been shipped before the U.S.-Israel attacks on Iran, and import volumes are expected to decline significantly further from April onwards.
The ongoing U.S.-Israeli war with Iran and Tehran's retaliatory strikes across the Gulf region have triggered a shortage of liquefied petroleum gas globally because of the reduction of sea traffic through the key oil shipping route, the Strait of Hormuz. The closure of the sea route has sent global oil prices soaring.
Japan considers further release of oil reserves amid escalating Middle East tensions
