Japan Diversifies Oil Imports Amid Middle East Disruptions

Japan's oil imports from the Middle East have decreased significantly in recent months. According to the country's Ministry of Economy, Trade and Industry, Japan imported nearly 6% more crude oil in June compared to the same month last year. However, its reliance on Middle Eastern supplies has dropped by 11.6 percentage points, with the decline offset by increased shipments from other regions.

The United States accounted for over 32% of Japan's oil imports in June, an increase of almost 10 percentage points compared to May. Japan has been diversifying its oil sources due to disruptions affecting supplies from the Strait of Hormuz. As a result, it began importing crude oil from the US for the first time in April and started receiving oil from Azerbaijan, South Sudan, and Russia's Sakhalin region since May.