Japanese refiner Taiyo Oil said Japan should continue to source the bulk of its crude from the Middle East because it is more cost‑effective, opposing government moves to diversify supplies after a US‑Iran war. Taiyo Oil’s CEO said national strategy should prioritise buying crude at the lowest possible cost in peacetime while retaining flexibility to secure alternative supplies in a crisis, warned diversification would impose large peacetime costs, and recommended keeping Middle East supply shar

Japanese refiner Taiyo Oil said Japan should continue to source the bulk of its crude from the Middle East because it is more cost‑effective, opposing government moves to diversify supplies after a US‑Iran war. Taiyo Oil’s CEO said national strategy should prioritise buying crude at the lowest possible cost in peacetime while retaining flexibility to secure alternative supplies in a crisis, warned diversification would impose large peacetime costs, and recommended keeping Middle East supply share above 90%.