Saudi crude oil imports supplies 44 percent of Japan needs in December 2023

TOKYO: Japan’s imports of Saudi crude oil increased in December 2023, reaching about 36.28 million barrels, or 44 percent of total imports, according to the Agency of Natural Resources and Energy that belongs to the Ministry of Economy, Trade and Industry. 

During December, Japan imported a total of 82.52 million barrels of oil, of which the Arab share was 91 percent, or 75.10 million barrels. This was supplied by five Arab countries: Saudi Arabia, the UAE, Kuwait, Qatar, and Oman — as well as the Neutral Zone (a territory on the border between Saudi Arabia and Kuwait), according to the data.

Japan imported about 28 million barrels from the UAE, or 33.9 percent of total imports, in December. Kuwait provided about 6 million barrels (7.2 percent) and Qatar 3.48 million barrels (4.2 percent). Japan imported nearly one million barrels (1.2 percent) from Oman and 0.5 percent from the Neutral Zone.

With the Japanese ban on importing oil from Iran and Russia continuing in December, the rest of Japan’s oil imports came from the US (5.2 percent), Central and South America (3.1 percent), Southeast Asia (0.6 percent) and Oceania (0.1 percent). Crude oil generates about a third of Japan’s energy needs.