16:50 - 16.03.2026

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March 16, Fineko/abc.az. From March 16 to April 15, Japan will reduce its mandatory reserves of crude oil for refineries using a temporary calculation formula, ABC.AZ reports, referring to Bloomberg.

Oil will be sold at prices that were in effect before the outbreak of the military conflict in Iran, with the possibility of exporting surpluses with low domestic demand. The country's overall reserves, including public and private ones, amount to roughly 470 million barrels, which covers the needs for 254 days.