Statement by the Foreign Minister

March 11, 2026
Japanese
  1. Japan welcomes the decision made on March 11 (same day local time) by the International Energy Agency (IEA) to implement a collective release totaling 400 million barrels of oil by the member countries to address the deterioration in crude oil market conditions resulting from curtailment of crude oil production and exports in the Middle East.
  2. This collective release demonstrates the determination of the IEA member countries to act in solidarity to ensure a stable supply of energy, which underpins people’s daily lives, and to stabilize the market.
  3. Ensuring the stable supply of energy, such as the crude oil market, and market stability is of utmost importance for the stability of the global economy, as well as Japan’s economy and Japanese daily lives.
  4. Japan will continue all diplomatic efforts toward the early de-escalation of the situation in the Middle East, while also continuing to respond in a timely manner to secure a stable energy supply for the world and Japan, in cooperation with relevant international organizations such as the IEA, as well as major consumer and oil-producing countries.
Back to Statement by the Foreign Minister