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Saudi Arabia and the UAE provided 85 percent of Japan’s total crude oil needs in March, according to the Agency of Natural Resources and Energy of the Ministry of Economy, Trade, and Industry. With Japan’s ban on importing oil from Iran and Russia continuing in March, Japan instead imported 74.39 million barrels of oil from the Arab states. Continued high rates of crude oil imports from Saudi Arabia and the UAE will support OPEC's push to maintain high production levels, thereby sustaining their dominance over non-OPEC countries.

Saudi Arabia, UAE Supplied 85% of Japan’s Crude Oil in March

Saudi Arabia and the UAE provided 85 percent of Japan’s total crude oil needs in March, according to the Agency of Natural Resources and Energy of the Ministry of Economy, Trade, and Industry. With Japan’s ban on importing oil from Iran and Russia continuing in March, Japan instead imported 74.39 million barrels of oil from the Arab states. Continued high rates of crude oil imports from Saudi Arabia and the UAE will support OPEC’s push to maintain high production levels, thereby sustaining their dominance over non-OPEC countries.

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