Key facts
- Japan's crude oil imports in April reached a record low.
- Imports decreased by 65.7% year-on-year.
- April imports averaged 853,329 barrels per day.
- Japan is increasing its reliance on US crude oil.
Japan's crude oil imports in April hit a record low, declining by 65.7% compared to the previous year, averaging 853,329 barrels per day. This significant drop is attributed to a shift towards US crude oil supplies, as several traditional suppliers from the Persian Gulf encountered disruptions. The move highlights changing global energy trade dynamics and Japan's efforts to secure stable oil sources amidst geopolitical and supply chain challenges.