Japan Rules Out More Reserve Releases After G7 Pledges 100 Million Barrels

Japan does not plan to carry out additional releases of crude oil from its national reserves, a senior government official said on Monday, even as the G7 group announced on Friday a 100-million-barrel release from stocks. “Japan has been releasing oil from reserves for some time now and there are no plans for a further release at this stage,” Minoru Kihara, Japan’s chief cabinet secretary, said on Monday, as carried by Reuters. Japan is a member of the G7 group of the world’s most industrialized nations, which pledged on…