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Japan’s Total Saudi Crude Oil Imports Account for 41.8% in October

According to the data from the Japanese Ministry of Economy, Trade and Industry’s Agency of Natural Resources and Energy, in October 2024, Japan imported 27.8 million barrels of crude oil from Saudi Arabia, which constituted 41.8% of the country’s total crude oil imports for the month. This accounts for a huge percentage of Japan’s total energy supplies.

In total, the country imported 66.53 million barrels of crude oil in the month of October, while in all those imports, the 97.8% portion has been covered by Arab countries. This means a total import of 65.06 million barrels. Thus, the strategic significance of Middle East oil suppliers is still active with four major Arab countries: Saudi Arabia, the UAE, Kuwait, and Qatar leading the import list in Japan.

The largest supplier to Japan was the UAE during October, accounting for 31.8 million barrels and 47.8% of crude oil imports. Saudi Arabia follows with 41.8%, equivalent to 27.8 million barrels. Qatar’s 2.7 million barrels accounted for 4.1%, while Kuwait supplies 2.04 million barrels, which equated to 3.1%. The neutral zone between Saudi Arabia and Kuwait added 0.7 million barrels, or 1.1% of Japan’s total oil imports for the month.

The dependence of Japan on Arab countries for crude oil reflects the importance these countries hold in the country’s energy security. Energy stability remains a priority for the country through strategic partnerships with Middle Eastern suppliers.

However, Japan’s political position in the international field also determines its energy supply sources. The country does not import crude oil from Iran and Russia; instead, it imports the remaining 2.2% of its oil supplies from Central and South America (0.9%), Southeast Asia (0.8%), Oceania (0.3%), and the United States (0.2%) in October.

The high proportion of Saudi oil imported by Japan indicates the substantial standing of the Kingdom within Japan’s energy equation, reflecting both the economic and geopolitical relationships between the two countries.