Japan's Oil Imports Rise as US Shipments Surge

Japan's crude oil imports rose by 17% in July compared to the same month last year, according to official data. The increase was driven by a significant surge in shipments from the US and a partial recovery of purchases from Saudi Arabia.

The total volume of oil imported reached 2.38 million barrels per day (11.72 million kilolitres) in July, marking the second consecutive monthly rise despite disruptions linked to the US-Israeli war on Iran.

However, imports from Middle Eastern countries decreased by 21.4% in July, with shipments from Japan's largest suppliers, the UAE and Saudi Arabia, dropping by 18.4% and 7.4%, respectively.

The share of oil imports from the Middle East fell to 58.9% in July, marking a 10th consecutive year-on-year decline.