-- Japan will deepen cooperation with Asian neighbors that make essential petroleum-based products to alleviate supply chain bottlenecks, Bloomberg News reported Sunday, citing Economy Minister Ryosei Akazawa.
Japan holds ample oil reserves, but struggles to identify constraints as distribution networks have become more complex, Akazawa reportedly said during a debate program aired on broadcaster NHK.
Akazawa said authorities are now using AI tools and are gathering information to pinpoint bottlenecks, the report said.
Gasoline subsidies will continue as Japan is set to face a prolonged period of elevated prices, as oil is unlikely to return to $60-$70 per barrel anytime soon, the report quoted Akazawa as saying.
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