Japan's METI met and confirmed that, at the next meeting, they will deepen consideration on the diversification of oil procurement sources and improve the domestic supply system and future oil reserves, Nikkei reports

Japan's METI signaling a focus on diversifying oil procurement sources indicates a strategic shift aimed at enhancing energy security amid global supply uncertainties.

Newsquawk StaffPublished 15 May 2026, 09:17 UTCOn the live feed at 08:57 UTC — 7 more headlines followed before this page went public

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09:01

UAE attempted to get Saudi Arabia and Qatar to coordinate on a military response to Iran's airstrikes, Bloomberg reports citing sources

08:57

Japan's METI met and confirmed that, at the next meeting, they will deepen consideration on the diversification of oil procurement sources and improve the domestic supply system and future oil reserves, Nikkei reports

08:54

India Foreign Ministry says India's ISRPL and UAE's ADNOC signed a pact as part of an oil agreement

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Context

This move could lead to increased Japanese crude demand, impacting prices of WTI and Brent, while potentially providing a buffer against geopolitical tensions affecting energy supplies.

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