Japan Diversifies Crude Imports Amid Ongoing Middle East Export Chaos

Japan's Eneos has made a rare move by purchasing a cargo of Canadian crude oil, its first since 2025. The 750,000-barrel shipment was loaded onto an Aframax tanker and comes from Exxon.

This purchase is significant as Japan seeks to diversify away from Middle Eastern crude sources, which previously accounted for over 90% of its imports.

The current oil export problems in the Middle East have made Canadian crude more attractive, especially for countries like Japan. Since the start of the year, up to 77% of total oil exports from Vancouver's port have gone to Asia, compared to 51% in 2024.