Tokyo: Japan imported around 76 million barrels of crude oil in May, of which 97 percent (73.68 million barrels) came from Gulf Cooperation Council countries the UAE, Saudi Arabia, Kuwait, Qatar, Oman, and Bahrain.
According to the Japanese Ministry of Economy, Trade, and Industry’s Agency for Natural Resources and Energy, the UAE was the top crude oil supplier to Japan during the month with approximately 33 million barrels, or 43.4 percent of its total imports.
Meanwhile, Japan’s imports of Saudi crude oil decreased slightly to around 29.36 million barrels or 38.6 percent of the total imports. In March, Japan’s imports of Saudi crude oil were 30.45 million barrels or 35.3 percent of the total.
Kuwait supplied 6.4 million barrels (8.5 percent) of the total in May, while Qatar delivered 3.44 million barrels (4.5 percent). Japan imported an estimated 1 million barrels (1.3 percent) from Oman, and 481,000 barrels (0.6 percent) from Bahrain.
The May import figures showed Japan’s dependence on Arab oil to keep its economic wheels turning. Tokyo’s embargo on importing oil from Iran and Russia continued in May.
More than 3 percent of Japanese crude imports came from other regions including Central and South America (2.1 percent), the US (0.7 percent), and Southeast Asia (0.3 percent).
The figures related to the quantities of oil that arrived at refineries, tanks, and warehouses in ports in Japan during May. Japan uses oil to generate around one-third of its energy needs.
