Japan's crude oil imports fell sharply in March to their lowest monthly level since 2013, as tensions in the Middle East lingered on to disrupt energy flows, Japanese media, The Nikkei, reported on Friday.
The report said statistics from Kpler, a data and analytics platform, showed that Japan imported 52.03 million barrels of crude oil in March, down roughly 30 percent from the previous month. The Nikkei said Kpler's figure also demonstrated that Japan's crude oil imports highly depended on producers in the Gulf region in March.
Oil imports from Saudi Arabia, the United Arab Emirates and Kuwait accounted for 54 percent, 35 percent and 4 percent, respectively, of the total in March, bringing Asia's third largest economy's overall reliance on the Middle East to 96 percent.
As most of the crude arriving in March had already been shipped before the U.S. and Israeli attacks on Iran, imports are expected to decline even further in April. Kpler forecast Japan's crude imports for April will fall to 42.15 million barrels, dropping around 41 percent from February.
Imports of refined petroleum products, such as gasoline and naphtha, are also shrinking. Kpler said imports of those products were projected to fall by about 30 percent month on month.
In light of mounting supply pressure, Japanese Prime Minister Sanae Takaichi said on Thursday that the government does not rule out calling on the public to save electricity and fuel.
Japan's crude oil imports fall to monthly lowest
Representatives of Israel and Lebanon on Tuesday began a new round of talks in Rome aimed at advancing the implementation of a ceasefire arrangement and addressing border security issues, according to local media.
The two-day closed-door talks are being held at the U.S. Embassy in Rome and involve diplomatic delegations from the two sides rather than military representatives.
According to media reports, the meeting marks the first round of talks since Israel and Lebanon reached a U.S.-brokered framework agreement in Washington in late June, aimed at paving the way for a final peace accord. At the center of the discussions is the implementation of the so-called "pilot zones" in southern Lebanon, which are currently under Israeli military control. Under the framework agreement, Israeli forces are to gradually withdraw from the areas, which will then be transferred to the Lebanese Armed Forces. Israel has made Hezbollah's disarmament a condition for completing the withdrawal, while Hezbollah insists that Israel must first fully withdraw from Lebanese territory.
Israeli Foreign Minister Gideon Sa'ar said on Tuesday that Israel is ready to move forward with the implementation in these two "pilot zones," expressing hope that the discussions in Rome will advance the process.
However, media reports indicate that despite agreeing to the withdrawal plans in last month's accord, Israel has continuously delayed concrete implementation on the ground.
Against this backdrop, Lebanese President Michel Aoun has instructed his delegation to press Israel for an immediate pullout from the two "pilot zones," hoping the Rome talks will yield "tangible and concrete" progress in enforcing the agreement.
Israel, Lebanon hold new round of talks in Rome
