Mexico Sends Oil to Japan: The Strait of Hormuz Redefines the Global Energy Map

One million barrels of Mexican crude oil are set to arrive in Japan in July 2026. This agreement stems from an April 21 phone call between President Claudia Sheinbaum and Japan’s Prime Minister Sanae Takaichi, driven by the global energy disruption caused by the closure of the Strait of Hormuz. The deal, reported during the morning press conference on April 21, positions Mexico as a key component of Tokyo’s energy diversification strategy in response to a conflict that has already reshaped the global oil market.

The Strait That Ignited the Global Arena

Since the attacks on February 28, 2026, the military escalation among the United States, Israel, and Iran has plunged the Middle East into a crisis with global repercussions. The energy catalyst was Iran’s decision to close the Strait of Hormuz, the maritime route through which approximately one-fifth of the world’s oil and a similar proportion of liquefied natural gas (LNG) transits. Iran threatened to open fire on any vessel attempting to cross, leaving at least 150 oil tankers stranded, according to situation analyses.

Market response was immediate. Brent crude surged from $70 per barrel to nearly $110 in the first month of the conflict, with prices at times touching $116. By April 2, the Mexican Export Blend reached a high of $111.51 per barrel. Bloomberg Intelligence warned that a prolonged closure of the strait could push oil prices above $150 per barrel, with cascading effects that would also impact industrial metals and food commodities.

The United States Central Command (CENTCOM) responded by imposing a naval blockade on Iranian ports in the strait. In this context, President Donald Trump stated that Iranian representatives had contacted him, “through the right people,” to negotiate; however, as of this edition’s close, talks remained at an impasse, according to available reports. The United Nations (UN) warned that the conflict could push over 32 million people into poverty.

Japan Faces the Perfect Storm

For Japan, the crisis in Hormuz constitutes a structural emergency. According to data from the International Energy Agency (IEA), domestic crude oil production in the archipelago covers merely 0.3% of its total demand, rendering it one of the world’s most vulnerable nations to any maritime disruption. The country is the third-largest oil consumer in Asia-Pacific, trailing China and India.

Although Japan possesses the world’s third-largest strategic petroleum reserves, with 263 million barrels in government inventories plus an additional 220 million that the industry is legally mandated to maintain under the country’s Petroleum Stockpiling Law, according to data from the U.S. Energy Information Administration (EIA), uncertainty regarding the conflict’s duration has prompted Tokyo to seek alternative supply sources. Reports available at the close of this edition indicated that Japan plans to allocate $10 billion to assist other Asian nations in stabilizing their crude oil supplies.

The Call and the Agreement

On April 21, at 9:00 AM, Prime Minister Takaichi and President Sheinbaum held an approximately 20-minute call, as confirmed by Japan’s Ministry of Foreign Affairs in an official statement released that same day. The Prime Minister thanked Mexico for its message of solidarity following an earthquake in Japan the previous day and expressed condolences for the shooting in the Teotihuacán archaeological zone. Both leaders discussed the situation in the Middle East and agreed to promote cooperation on energy supply matters.

President Sheinbaum elaborated on the details during her Mañanera del Pueblo press conference that Tuesday. “Japan is currently facing a situation due to the lack of oil stemming from the closure of the Strait of Hormuz,” she explained, adding that “the government of Japan had requested Petróleos Mexicanos (Pemex) to explore the possibility of exporting oil to Japan as much as feasible.” Regarding the nature of the crude involved, the President clarified: “It is the surplus crude that we still export, which is not used in our own refineries,” and emphasized that this is not the first time Mexico has conducted such an operation with Japan.

The specific figure of one million barrels for July delivery was reported by Nikkei, while Sheinbaum did not specify the exact quantity in her press conference.

More Than Oil: An Expanding Relationship

Japan’s Ministry of Foreign Affairs detailed that Prime Minister Takaichi also proposed establishing a framework for dialogue on economic security with Mexico, described as a “country rich in mineral resources,” to enhance cooperation between the two nations, which consider themselves “Strategic Global Partners.” Takaichi also requested the creation of favorable conditions for Japanese companies operating in Mexican territory; Sheinbaum responded that the presence of these companies “is important for Mexico as well” and pledged to strengthen bilateral economic relations. Both leaders agreed that their foreign ministers would continue to work in this direction.

During the morning press conference, the President expanded on the scope of the conversation. She described decades of collaboration between Mexico and the Japan International Cooperation Agency (JICA) on environmental matters, including reforestation projects in Mexico City active since the 1990s, as well as initiatives in river sanitation and atmospheric pollution reduction. The President also mentioned the interest of Japanese companies in expanding their investments in Mexico across various sectors.

Mexico: Between Fiscal Benefit and Domestic Pressure

For Mexico, the crisis in Hormuz operates as a double-edged sword. Each additional dollar in the international crude oil price generates an extra 10.7 billion pesos in petroleum revenues for the federal government, according to economic analyses. The Mexican Export Blend directly benefited from the price hike, and the export of surplus crude to Japan adds a timely revenue stream in an elevated price environment.

However, the domestic cost is real. Mexico imports approximately 60% of the gasoline it consumes and nearly 70% of the natural gas it uses. Fertilizer costs have doubled since the onset of the conflict, directly impacting the prices of staple foods such as corn and wheat, with projected increases of up to 6% for vegetables, 8% for meat, and 10% for bread and cereals, according to available analyses. The National Institute of Statistics and Geography (INEGI) registered inflation of 4.63% in the first two weeks of March, and the Organization for Economic Cooperation and Development (OECD) raised its annual projection to 3.8%.

Against this backdrop, the agreement with Japan is more than just a commercial transaction. It is a concrete signal that Mexico seeks to transform its exporting position into an energy diplomacy asset, precisely as the world recalibrates its supply routes and Tokyo, almost entirely reliant on imported oil, looks toward the Atlantic and Pacific in search of alternatives to the Persian Gulf.