Saudi Arabia Leads Japan Oil Supply Amid Rising Asian Crude Prices

Japan’s oil imports in August 2025 were heavily dominated by Arab nations, accounting for 96.2% of total imports, with Saudi Arabia and the UAE being the largest suppliers. Kuwait Petroleum Corp.'s CEO highlighted strong global oil demand justifying OPEC+ supply increases, reflecting market resilience and price stability. Recent oil price rallies, driven by supply concerns including Russia extending its gasoline export ban, have supported GCC energy sectors, while Saudi Arabia considers easing foreign ownership caps to attract investment. Saudi Arabia plans to modestly raise November crude oil prices for Asian buyers by 20–60 cents per barrel, aligning with firmer Middle East crude benchmarks and a recent rebound in global supply, though increases are tempered by ongoing 2026 contract negotiations and higher freight costs. These Saudi pricing adjustments influence broader Asian energy markets and reflect a balance between producers and refiners amid supply uncertainties. The OPEC+ alliance is expected to approve further production increases to maintain market share amid fluctuating global oil dynamics.