Japan's strategic crude oil stockpiles fell by the equivalent of four days of consumption in June, following drops of five days in May and 27 days in April, an official at the Economy, Trade and Industry (METI) said on Monday.
As of July 3, combined reserves, including public, private and jointly held stocks with oil producing-countries, had recovered to the equivalent of 200 days of domestic consumption and are unlikely to decline significantly in July, Narumi Hosokawa, deputy director-general for immediate crisis management at the METI, told reporters.
Japan has secured alternative supplies equal to 100 per cent of its average monthly consumption in the previous year for July, Japanese Prime Minister Sanae Takaichi said last month.
No decisions were made to release additional stockpiles in May or June, Hosokawa said.
Asked about the government's stance on resuming imports of Iranian crude oil, Hosokawa said Japan had secured sufficient crude supplies to meet domestic demand.
While the government would not rule out any options, it needed to carefully assess developments in the Strait of Hormuz and other factors and was therefore not in a position to comment further at this stage, Hosokawa said.
Iran has begun talks with Japanese companies under a US sanctions waiver allowing it to resume oil sales, though prospective buyers are seeking a longer waiver and reassurances about ship safety, three Iranian and Western sources said.
(Reporting by Yuka Obayashi; Editing by Kevin Buckland)
