Arab News Japan

TOKYO: Japan’s reliance on crude oil from the Arab block of nations remains steady, with the lion’s share — 44.1% of the total in February 2024 — coming from UAE, according to data released by Japan’s Agency of Natural Resources and Energy of the Ministry of Economy, Trade, and Industry.

Japan imported a total of approximately 71 million barrels of oil for February and 96.7% of that (68.74 barrels), came from the five Arab countries, namely UAE, Saudi Arabia, Kuwait, Qatar, and Oman and, as well as the Neutral Zone according to the released data.

The UAE share amounted to 31.3 barrels whereas Saudi provided slightly less than the previous month at roughly 27 million barrels or 38%. About 5.12 million barrels (7.2%) came from Kuwait, 3.9 million barrels (5.5%) from Qatar and Oman provided 1.3% with 0.6% coming from the Neutral Zone.

The remainder of Japan’s oil imports came from Southeast Asia (0.4%), Central and South America (1.7%), and the United States of America (1.1%). Sanctions on oil from Iran and Russia remained in place for February.