Japan to Match Prior-Year Crude Imports in July
Prime Minister Sanae Takaichi said Japan will import the same volume of crude oil in July as it did a year earlier. The country has diversified its supply sources away from the Middle East.
Japan TimesJapan will import the same volume of crude oil in July as it did a year earlier, Prime Minister Sanae Takaichi said Thursday. Takaichi credited alternative supply sources that the country secured despite disruptions from the Middle East conflict. She spoke at a special meeting of her ministers.
Japan previously relied on the Middle East for over 90 percent of its oil imports. The country has since diversified its supply chain, according to Takaichi. The United States expanded its crude exports to Japan tenfold, she said. Japan also secured supplies from other producers.
Takaichi stated that 100 percent of the barrels will be loaded outside the Strait of Hormuz. This includes oil that may move through bypass pipelines. The Eneos Endeavor supertanker arrived at a Yokohama refinery on Saturday, the Japan Times reported.
