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macroMay 31, 2026, 7:07 PM

Japan's Strategic Oil Reserves Hit Record Low Amid Hormuz Blockade

Japan's crude oil imports fell 66% in April due to the ongoing Strait of Hormuz blockade, driving strategic petroleum reserves to an all-time low, according to Kpler data and Japan's Ministry of Economy.

Japan's strategic petroleum reserves (SPR) have plunged to their lowest level in history, according to data from Kpler. The drawdown comes as Japan's crude oil imports collapsed by 66% in April, attributed to the continued blockade of the Strait of Hormuz, as reported by Japan's Ministry of Economy.

Japan is actively tapping its emergency stockpiles to compensate for the import shortfall. The country is the world's third-most reliant on oil shipments through the Strait of Hormuz, following China and India, making it particularly vulnerable to disruptions in the strategic waterway.

Source: MarketTwits