The countries of the Gulf Cooperation Council provided Japan with nearly 98 percent of its crude oil imports in July, according to data from the Agency for Natural Resources and Energy of the Ministry of Economy, Trade, and Industry.
This makes Arab oil more crucial than ever in meeting Japanese energy needs. Japan didn’t import any oil from Russia in July in accordance with measures imposed as a result of Russia’s invasion of Ukraine.
Out of the 81.05 million barrels imported by Japan, GCC members UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman provided 79.17 million barrels or 97.7 percent, according to METI. —AN