Japan shifts oil imports toward US as Middle East reliance drops

Japan's crude oil import patterns have undergone a significant shift, characterized by a sharp increase in reliance on the United States and a simultaneous decline in dependence on Middle Eastern suppliers.

According to data from the Ministry of Economy, Trade and Industry, July crude oil imports reached 11.72 million kl, a 17.0% increase compared to the same month last year. The United States emerged as a primary supplier, with imports rising by 360.6% to 4.34 million kl. In contrast, imports from the United Arab Emirates and Saudi Arabia decreased by 18.4% and 7.4%, respectively.

The total dependence on Middle Eastern nations fell to 58.9%, marking a 28.7 percentage point decrease from the previous year and continuing a ten-month trend of lower Middle Eastern reliance. This shift in the supply chain follows geopolitical tensions and maritime disruptions in the Strait of Hormuz, which have prompted a move toward non-Middle Eastern sources.