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Japan will sell 750,000 kilometers, or 4.72 million barrels of oil from its reserves, at auction on June 10, the Ministry of Industry said, quoted by Reuters.

The measure is coordinated with the International Energy Agency (IEA) and aims to influence prices on world oil markets.

Japan will sell 4.8 million barrels of oil from its reserves in May

The oil will be delivered to the winning buyers after July 20.

Since February, Japan has held three similar auctions and sold a total of more than 4 million barrels of crude oil. 

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