Mexico Agrees to Send 1 Million Bbl of Crude to Japan in July: Sheinbaum
Mexico will export 1 million bbl of crude to Japan in July under an agreement announced last week by Mexican President Claudia Sheinbaum, as the Asian nation seeks to offset supply disruptions following the closure of the Strait of Hormuz.
“The Japanese government had for some time requested that Pemex explore the possibility of exporting crude, to the extent feasible,” Sheinbaum said last week in her daily briefing with reporters.
She added that the issue was discussed with Japanese Prime Minister Sana Takaichi during a conversation on April 20, as part of broader bilateral cooperation efforts.
Mexico has not sent significant exports to Japan since a nearly $62 million crude sale in October 2023, according to Bank of Mexico records.
Crude shipments sent to the Far East have been the least significant outlet for Mexican crude over the past two years, based on Pemex figures.
So far in 2026, Mexico has exported just 2,700 b/d to Far East destinations, accounting for about 4% of total exports.
Overall crude exports have nearly halved between 2020 and 2025, Pemex data show, as the country has prioritized supplying its seven domestic refineries, leaving only a limited surplus available for export.
Mexico in 2025 reached 1.088 million b/d of refined products, a 9.3% increase year over year. So far this year it has produced nearly 190,000 b/d of refined products, of which more than a third was gasoline.
According to Japanese financial newspaper the Nikkei, the deal would mark Japan’s first agreement with another country to secure an alternative oil supply since the Middle East conflict began in late February.
Japan sources around 90% of its crude imports from the region, the publication noted.
Japan consumes approximately 1.7 million b/d of crude oil, meaning the Mexican cargo would cover less than a full day of demand. However, Tokyo is expected to seek continued supplies, the Nikkei added.
Reporting by José Luis Adriano, jadriano@opisnet.com; Editing by Karla Omaña, komana@opisnet.com and Michael Kelly, mkelly@opisnet.com