Mubasher: Saudi Arabia and the UAE accounted for 82% of the GCC countries' total oil exports to Japan in May 2024, with their exports totalling about 53.69 million barrels.

The GCC countries exported about 61.85 million barrels of crude oil to Japan, representing 94.50% of Japan's total oil imports in May 2024, down by 15.90% year-on-year (YoY) from 73.56 million barrels, according to Japanese government data cited by Mubasher.

Japan imported approximately 65.42 million barrels of oil in May, a 13.76% decline from the 75.86 million barrels imported in the same month of 2023.

The UAE was the top exporter in May, accounting for 46.20% of Japan’s total oil imports with about 30.19 million barrels, compared to 32.90 million barrels during the same month a year earlier.

Saudi Arabia was the second-largest supplier, contributing 35.90% of Japan’s total oil imports, with about 23.50 million barrels.

In May, Japan imported about 5.44 million barrels from Kuwait, representing 8.30% of its total oil imports.

Qatar supplied Japan with about 2.72 million barrels in May 2024, accounting for 4.20% of Japan's total oil imports.