According to the Agency of Natural Resources and Energy, a crucial branch of the Japanese Ministry of Economy, Trade, and Industry, Japan’s imports of Saudi oil in April 2024 amounted to a noteworthy 31.10 million barrels, or 39.5% of total imports.
In April, Japan imported approximately 78.84 million barrels of oil, of which 95.6%, or roughly 75.35 million barrels, came from the Arab world.
The Neutral Zone and the five Arab nations (United Arab Emirates, Saudi Arabia, Kuwait, Qatar, and Oman) have made a substantial contribution that highlights the strategic significance of these countries for Japan’s energy security.
The UAE was the top supplier, providing 35.79 million barrels, making up 45.4% of total imports. Kuwait and Qatar also contributed, with 4.71 million barrels (6%) and 2.77 million barrels (3.5%) respectively. Oman and the Neutral Zone played smaller roles, each providing 0.6% of Japan’s total imports.
As Japan continued to avoid importing oil from Iran and Russia in April, the remaining 4.4% of oil imports came from the US (1.6%), Central and South America (1.6%), Oceania (0.8%), and Southeast Asia (0.4%).
Meanwhile, in a video conference with Prime Minister Fumio Kishida, Saudi Crown Prince Mohammed bin Salman made a commitment to Japan to provide steady oil supplies, according to a press release from the Japanese Foreign Ministry.
Crown Prince Mohammed bin Salman told PM Fumio Kishida that “Saudi Arabia remains committed to the stable supply of crude oil to Japan and that Saudi Arabia would like to cooperate with Japan in other areas including the field of clean energy.”
During the meeting, PM Fumio Kishida emphasised the importance of Saudi Arabia continuing to play a key role in stabilising the global oil market, possibly through further production increases.
According to the release, PM Fumio Kishida also stated that he would like to collaborate with Saudi Arabia to create a global supply chain for clean energy, including ammonia and hydrogen.