Japan’s crude oil imports are expected to rebound in May after a sharp decline in April
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Golden Ten Data reported on May 26 that as refiners ramp up alternative sourcing while the Strait of Hormuz remains largely closed, Japan’s crude oil imports in May are expected to rebound to around 1.7 million barrels per day, which is about three-quarters of the level in the same period last year. This estimate is based on vessel tracking data as of May 19, and the figure is likely to exceed previous expectations from the Japanese government. The rebound in imports is mainly attributed to refiners independently arranging supplies of US crude and Saudi crude delivered via the Red Sea. However, some cargoes originally bound for Japan could still be rerouted at the last minute.
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