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HomeEconomyJapan’s Imports of Saudi Crude Oil Remain Strong in October

Japan’s Imports of Saudi Crude Oil Remain Strong in October

Imports from Saudi Arabia account for 42.4% of Japan's total

December 26, 2023
in Economy
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TOKYO: Japan’s imports of Saudi crude oil remained strong in October, reaching 30.37 million barrels, which accounted for 42.4 percent of the country’s total, according to Japanese government data. This figure slightly increased from September’s imports of around 29 million barrels.

The Japanese Ministry of Economy, Trade, and Industry’s Agency for Natural Resources and Energy reported that in October, approximately 92 percent (65.95 million barrels) of Japan’s total oil imports came from Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain.

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Despite Tokyo’s ban on importing oil from Iran and Russia, it continued to meet its oil requirements with imports from other countries. The remaining oil imports in October came from the US (3.5 percent), Central and South America (2.2 percent), Southeast Asia (1.3 percent), Oceania (1 percent), and Indonesia (0.2 percent).

These figures represent the quantities of oil that arrived at refineries, tanks, and warehouses in Japanese ports during September. Japan relies on oil to generate around one-third of its energy needs.

Tags: energyimportsJapanOctoberSaudi crude oil
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