Japan has commenced the pumping of oil from its strategic reserves, a move announced on Monday, following indications from the International Energy Agency (IEA) that operations in Asia and Oceania would initiate before other regions. This decision comes in the wake of an agreement reached by IEA member states on March 11 to utilize oil reserves to mitigate soaring prices stemming from geopolitical conflicts, marking a historic response. Prime Minister Sanae Takaiichi highlighted that Japan plans to withdraw 80 million barrels of oil to help stabilize the economy, with this extraction set to occur from March 16 to April 15, and a temporary formula for determining the necessary quantity to be used.