Kyodo: Japan to fully supply itself with oil in July

Due to the expansion of imports from alternative sources, Japan will be fully supplied with oil in July, reaching 100% of the annual level, according to the Kyodo news agency, citing sources in the government and wholesale companies, Report informs.

Japan previously purchased more than 90% of its oil from the Middle East, but these imports have significantly decreased, mainly due to the blockade of the Strait of Hormuz. As a result, supplies from the United States were organized for the first time in April, and since May, oil has been imported from Azerbaijan, South Sudan, and Russia's Sakhalin Island.

According to Kyodo's sources, Japan will cover about 80% of its oil needs in June compared to the 2025 level. Supplies are expected to increase in July.

Japanese Prime Minister Sanae Takaichi announced that at the Group of Seven (G7) summit, which opened in France on June 15, she plans to raise the issue of joint efforts to maintain stability in oil trade, build significant reserves, and strengthen cooperation between oil-producing and oil-consuming countries.