Prime Minister Sanae Takaichi has tasked industry minister Ryosei Akazawa with drawing up an action plan?by the end of August to address the energy risks?that became apparent amid the Middle East conflict.
The directive was delivered at a ministerial meeting on the Middle East situation on Friday.
Global crude oil prices have calmed down after the United States and Iran signed a memorandum of understanding to end their conflict. ¡°This is a good opportunity to strengthen the energy supply-demand structure and further international cooperation,¡± Takaichi said.
Takaichi aims to include the plan in the government¡¯s fiscal 2027 budget.
The move also comes amid increased electricity demand as the use of artificial intelligence grows.
During the meeting, Takaichi also explained measures to resolve supply disruptions for oil-related products and their effects.
She added that concerns about supply constraints have receded thanks to the launch of a system in which bus operators and auto repair shops can buy lubricants directly?from suppliers.
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