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Business News

US imports Saudi oil via Japan

The US is set to start importing crude oil from Saudi Arabia via Japan, in an unusual route that highlights the growing importance of Asian oil supplies for America's Pacific refineries as production from Alaska's North Slope declines.

The US has also become a top importer of "Epso Blend" crude, which Russia started exporting from Siberian oil fields to Kozmino last year.

Saudi Aramco started shipping crude to Japan's Okinawa this year under a storage deal with Japan's state-run oil firm as it looked to tap Asian markets.

America, which has laid out plans to cut its oil imports by a third over the next 10 years, currently imports more than half the 20 million barrels it consumes each day.