EL7.AI
CommoditiesMediumUpdated•Originally published 29 May 2026•Updated 17 June 2026•
2 min read

Japan Crude Oil Imports Plunge 66% Amid US-Iran Conflict Disruptions

Illustration of an oil barrel, maps of Japan, USA, and Iran, and documents about crude import reports and tensions.

Key Facts

1Japan's crude oil imports fell nearly 66% in April year-on-year to 850,000 barrels per day.
2Imports from the Middle East to Japan dropped 68% due to the ongoing US-Iran conflict.

In a move reflecting escalating energy security threats for Asia's third-largest economy, Japan's Ministry of Economy, Trade and Industry (METI) revealed a massive contraction in crude oil inflows. According to reports, crude oil imports plunged nearly 66% in April year-on-year to just 850,000 barrels per day. This decline is primarily attributed to a 68% drop in supplies from the Middle East caused by the ongoing military conflict between the US and Iran.

This slump comes at a critical juncture for global energy markets, as Japan historically relies on the Middle East for over 90% of its oil needs. In comparison, China, the world's largest oil importer, brought in approximately 10.88 million barrels per day in April 2024 per Chinese customs data (Reuters), highlighting Japan's acute vulnerability to supply chain disruptions. Major industrial players like Toyota (7203.T) are facing increased logistical input costs and volatility in energy supplies essential for manufacturing.

Looking ahead, traders are monitoring the stability of Toyota (7203.T) shares as they face headwinds from rising energy costs. According to the economic calendar, the recent API Crude Oil Stock Change showed a decline of 2.8 million barrels (as of May 27, 2026); any further signs of global supply tightening could exacerbate pressure on Japanese industrial profit margins given the sharp drop in physical imports.