TOKYO: Japan said Tuesday it will end its four-month release of strategic oil reserves on Jan. 4, following the stabilization of global oil prices and the gradual recovery from Hurricane Katrina in the United States.
The move follows an announcement Monday by the Paris-based International Energy Agency calling an end to its international plan to have 26 countries, including Japan, draw on their strategic reserves to help offset the loss of refining capacity from the storm.
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