Japan's Iranian oil imports surged to the highest level in 14 months in May, when the country imported an average of 211,097 b/d, up 31.5% year on year, preliminary data from the Ministry of Economy, Trade and Industry Friday showed.
Imports of Iranian oil in May had jumped on the back of a last-minute rise in demand ahead of the anticipated US announcement on its decision on Iran sanctions.
US President Donald Trump said May 8 the US would withdraw from the Iran nuclear deal and re-impose sanctions that have been frozen since January 2016 as part of the Joint Comprehensive Plan of Action.
Iranian crude imports, which accounted for 7% of Japan's total crude imports of 2.98 million b/d in May, were up close to seven times from 30,910 b/d in April.
Japan's Iranian oil imports in May were highest since the country imported an average of 224,604 b/d in March 2017, according to METI data.
