Japan to “jointly stockpile” U.S. crude oil, Japan-U.S. leaders to agree…In order to increase production, stabilize prices, and diversify suppliers through investment in the U.S

The Japanese and U.S. governments have begun final adjustments to increase U.S. crude oil production and to jointly stockpile production in Japan. It is expected that the agreement will be reached in line with the meeting between Koichi and President Trump to be held in Washington on the 19th U.S. time. With oil prices soaring due to Iran's de facto blockade of the Strait of Hormuz, the plan is aimed at stabilizing prices and diversifying Japan's suppliers.