TOKYO: The Agency of Natural Resources and Energy of the country’s Ministry of Economy, Trade, and Industry reports that in March, Saudi Arabia and the United Arab Emirates supplied 85% of Japan’s total crude oil needs.
Ten percent more of Japan’s needs came from Arab countries, such as Oman, Kuwait, Qatar, and the Neutral Zone. This indicates that about 95% of Japan’s needs were met by the Arab world. Approximately one-third of Japan’s energy demands are met by crude oil. In March, 32.77 million barrels, or 44.1 percent of Japan’s total imports, were coming from the UAE. The proportion of Saudi Arabia’s imports to all imports was 41 percent or 30.51 million barrels.
Japan bought 74.39 million barrels of oil in March, of which 70.45 million, or 94.7 percent, came from the Arab world. 5.12 million barrels (6.9%) came from Kuwait and 1.56 million barrels (2.1%) from Qatar. Oman and the Neutral Zone accounted for 0.6% and 0.7% of Japan’s imports, respectively. Japan was still prohibited from importing oil from Iran and Russia in March, therefore its main sources of oil imports were the US (4.1%), Central and South America (0.9%), and Oceania (0.3%).
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