Japan's economy, trade and industry minister Akazawa said on Tuesday the
government will not make additional releases from national oil reserves in
September and October. He said tankers that normally transit the Bab el-Mandeb
are rerouting via the longer Suez route, and that September crude purchases are
expected to fall from August's level (100% of last year's monthly average) to
about 80% of last year's monthly average. Akazawa said some of the reserves
already approved for release remain unused because alternative supply
arrangements have progressed; using that unused portion will ensure September
supply reaches last year's monthly average, and he expects October crude
purchases to return to last year's monthly average.
