Tokyo, March 11 -- Minister of Foreign Affairs of Japan Toshimitsu Motegi on Wednesday welcomed the decision made by the International Energy Agency (IEA) to implement a collective release totaling 400 million barrels of oil by the member countries, a statement by Japan's Foreign Minister said.

The decision has been taken to address the deterioration in crude oil market conditions resulting from curtailment of crude oil production and exports in the Middle East.

This collective release demonstrates the determination of the IEA member countries to act in solidarity to ensure a stable supply of energy, which underpins people's daily lives, and to stabilize the market, as per the statement.

Ensuring the stable supply of energy, such as th...