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 unu

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.