Japan has announced the biggest-ever release from its strategic oil reserves — 80 million barrels beginning Thursday — even as the Japan Household Paper Industry Association urges consumers not to panic-buy toilet paper amid social media-fueled fears of shortages. Prime Minister Sanae Takaichi confirmed the massive reserve deployment in response to the US-Israel conflict with Iran disrupting the Strait of Hormuz, while government officials and industry groups worked in parallel to calm public anxieties about household goods. The juxtaposition of historic energy policy action and toilet paper reassurances captures the unusual nature of the current crisis.
The industry association noted that approximately 97% of Japan’s toilet paper is manufactured domestically using recycled paper, with no dependence on Middle Eastern oil or supply chains. Association head Morio Ishizuka appealed directly to consumers to buy only what they normally need and to avoid spreading panic-inducing misinformation. The trade ministry echoed this message, urging rational decision-making based on accurate information.
Japan’s energy situation is genuinely serious, however. The country sources over 90% of its crude oil from Middle Eastern producers, and the Strait of Hormuz is the key maritime corridor through which this oil flows. The US-Israel conflict with Iran has raised credible fears that tanker traffic through this passage could be reduced or halted for a significant period.
The 80 million barrel release — equivalent to 45 days of national consumption and 1.8 times the previous record deployment — is Japan’s most assertive use of its strategic petroleum reserves in history. Japan holds total reserves of approximately 470 million barrels, equivalent to 254 days of consumption, giving it ample capacity to absorb even this historic drawdown while maintaining a meaningful buffer. Gasoline subsidies capping prices at around ¥170 per litre provide additional consumer protection.
Prime Minister Takaichi has managed both the domestic and international dimensions of the crisis with composure, declining Trump’s call for naval deployment while committing to intensive diplomacy. Her steady hand through this multifaceted crisis has included managing public communications about toilet paper just as carefully as it has managed oil reserve strategy. Japan’s response to the crisis will be judged by outcomes across both the energy and social confidence dimensions.