Global release of oil reserves averted Asian economic slowdown, Japan finds

Iran warIEA's 32 countries agreed to pump 400m barrels into market to ease supply shocksAsian economies were able to import crude oil from sources other than the Middle East. (Idemitsu Tanker)KYOKO TAMADAJuly 18, 2026 02:18 JSTTOKYO -- Asian economies forestalled what could have been a sharp slowdown stemming from the Iran war, thanks largely to the coordinated release of oil reserves around the world, the Japanese government concluded in a report out Friday.