Japan Secures Alternative Crude Through 2028

Japan Secures Alternative Crude Through 2028

Japan has confirmed that it has secured enough alternative crude oil supplies to compensate for the loss of Middle Eastern oil for the month of July 2026, as stated by Prime Minister Sanae Takaichi on Thursday, 11 June 2026. In the same announcement, the government disclosed that the alternative supply arrangements are also in place to cover the period up to the end of March 2028, thereby providing a multi‑year buffer against potential disruptions.

The procurement of these alternative supplies is presented as a direct response to the continuing Iran crisis, which has been affecting oil supply routes originating from the Middle East. No specific volumes, pricing terms, or source countries for the alternative crude were disclosed in the statement.

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