Japan Ready to Release Oil Reserves

Tokyo, Sept. 16 (Jiji Press)--Japan is ready to release oil reserves to secure necessary amounts of supply if needed, industry minister Isshu Sugawara said Monday. Sugawara issued a statement to express the readiness to take such action in cooperation with the International Energy Agency and other countries. The statement also said Japan has more than 230 days' worth of domestic consumption in its oil reserves. Oil prices soared Monday after attacks on major Saudi Arabian oil facilities Saturday. END