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Taiyo Oil urges Japan to rely on Middle Eastern oil
Taiyo Oil has confirmed that Japan needs to continue relying on Middle Eastern oil due to economic viability and low costs, despite pressures to diversify supply sources caused by tensions in the region and the US-Iran conflict. The CEO explained that depending on the region to meet more than 90% of Japan's oil needs remains the optimal choice, despite government efforts to diversify supplies during the Middle East crisis. The company reduced its reliance on the region from 40% to 15% in favor of supplies from the US and Argentina, with expectations of returning to previous levels once stability is restored.
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