Japan says no decision on timing of sale of oil reserves

Author: Justin Low | Category: News

Japan says that the government will sell a few hundred thousand kilolitres of oil from its stockpile

Well, 1 kilolitre is roughly 6 barrels of oil in US terms so it really depends. But the rough estimate earlier is that Japan will be going for about 4 million barrels - which is equivalent to just a single day's worth of consumption. Underwhelming doesn't quite cut it.
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