Japan prepares to auction nearly 2 million barrels of crude oil
JX Nippon Oil & Energy’s Negishi Refinery. (Photo: Nikkei)
The Japanese Ministry of Economy, Trade and Industry said that the above oil will be taken from a storage facility in the southern city of Shirashima and will be transferred to the winning bidder from May 20.
This is Japan’s third and final “discharge of stockpiles” at the request of the US to cool down world oil prices.
In November 2021, Japan announced that it would “discharge” several hundred million liters of oil at the request of the US to cool down oil prices, as well as change the type of oil in the national reserve.
Up to now, Japan has conducted 2 auctions in February and early March, selling 2.26 million barrels of oil.
Earlier this month, Japan also announced that it would sell 7.5 million barrels of oil from its private reserves under a coordinated request by the International Energy Agency (IEA) to make up for the shortfall caused by the crisis in Japan. Ukraine.
Currently, the world oil price is still trading around 100 USD/barrel in the context of investors concerned that the global energy supply will continue to be short due to the impact of the conflict in Ukraine.
* Invite readers to watch programs broadcast by Vietnam Television on TV Online and VTVGo!
at Blogtuan.info – Source: vtv.vn – Read the original article here
