Middle East conflict continues, Japan's crude oil imports in March dropped to a new low.

According to news from Japan on April 3, affected by the situation in the Middle East, Japan's crude oil imports in March plummeted to the lowest level since 2013. According to market service agency Kepler, Japan's crude oil imports in March were approximately 52.03 million barrels, a decrease of about 30% compared to the previous month. Kepler's data shows that Japan's crude oil imports in March are highly dependent on Gulf countries, with Saudi Arabia, the United Arab Emirates, and Kuwait accounting for 54%, 35%, and 4% respectively, with a total reliance on the Middle East of up to 96%. Imports of petroleum products are also continuing to shrink. According to Kepler's data, the import volume of products such as gasoline and naphtha in March is expected to decrease by about 30% compared to the previous month.