Japan's Strategic Oil Reserves Rise to 202-Day Supply in July

Japan's strategic crude oil reserves rose to cover 202 days of national consumption in July, an increase of three days from the previous month. The data, released Tuesday by the Ministry of Economy, Trade and Industry (METI), indicates a reversal after three consecutive months of inventory declines.

July Data Breakdown

The nation's total reserves, measured as of August 1, include stockpiles held by the government, private sector companies, and those held jointly with oil-producing countries. The increase to a 202-day supply bolsters the country's buffer against potential energy supply disruptions.

Reversing Recent Declines

July's gain follows a period of significant drawdowns from the nation's stockpiles. According to METI figures, reserves had previously fallen by:

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• 4 days in June
• 5 days in May
• 27 days in April

The ministry also noted that Japan has not made any official decisions to conduct further releases from its stockpiles since May.

Strategic Importance for Energy Security

Maintaining a substantial strategic reserve is a cornerstone of Japan's energy policy due to its high dependence on foreign oil. The country is one of the world's largest crude importers, with shipments from the Middle East accounting for 94% of its total crude supply in 2025.