PARIS - The global oil market could face a major supply surplus in 2027 if the United States and Iran maintain an agreement aimed at ending hostilities, the International Energy Agency said in its monthly report released on June 17.
The IEA said supply is expected to rise to 110.3 million barrels a day as Middle Eastern countries resume production and exports. Demand, however, is projected to remain at 105.3 million barrels a day as an economic slowdown weighs on consumption.
Source: テレ東BIZ
Northern Japan experienced record-breaking cold on the morning of November 11th, with temperatures plunging to minus 20.2 degrees Celsius in Horokanai, Hokkaido, marking the first time in Japan's recorded history that temperatures have fallen below minus 20 degrees during the first half of November.
East Japan Railway (JR East) announced on November 10th that it will introduce touch-free ticket gates at 40 stations, including every station on Tokyo's Yamanote Line, from spring 2028, allowing passengers using Mobile Suica to pass through without taking their smartphones out of their pockets or bags.
Japan's Children and Families Agency unveiled its first national guidelines on November 10th for parental involvement in children's internet use, dividing those aged 0 to 18 into six developmental stages as the government considers tighter regulations on social media platforms to protect young people from online bullying, exploitation, and other growing risks.
As of 3 a.m. on Wednesday, November 11, Typhoon No. 32 was moving east-northeast over waters east of Chichijima in the Ogasawara Islands, gradually heading away from the Japanese archipelago after passing near the island between late Tuesday night and early Wednesday morning.
Odakyu Electric Railway unveiled images of its next-generation Romancecar limited express train on November 10, revealing a striking blue-green design featuring enormous circular windows that will allow passengers to enjoy panoramic views from ceiling to floor when the new trains enter service in March 2029.
Municipalities across Japan are raising the cost of designated garbage bags as waste disposal expenses increase, with one town in Hokkaido proposing a 4.5-fold price hike from 385 yen to 1,735 yen for a pack of 10 bags, while growing pressure on incineration facilities is prompting debate over whether more cities should introduce paid household garbage collection.
Japan is unlikely to end its heavy reliance on Middle East crude oil, even as geopolitical tensions expose the risks of depending on the region for more than 90% of its imports, leaving the country to pursue a gradual mix of diversification, electrification, renewable energy and technological innovation.
A tanker carrying about 1 million barrels of Mexican crude oil arrived off Yokkaichi, Mie Prefecture, on the morning of July 17, marking Japan's first such delivery since the Strait of Hormuz was effectively closed.
Marutake Tosou, a painting company founded about 50 years ago in Nagoya’s Nishi Ward, handles exterior walls and other building projects. Its workshop is lined with cans of thinner, an essential material used for sanding products and diluting paint, but at the end of April the company was struggling to secure supplies.
Dental clinics are facing higher costs for gloves, masks and other supplies made from naphtha-derived materials, even as shortages ease following renewed conflict in the Middle East that has disrupted naphtha supplies.
Crude oil prices have plunged to the low $70 range per barrel following the signing of a memorandum aimed at ending fighting between the United States and Iran, but while the immediate risk of an energy crisis appears to have eased, economists warn that price increases for electricity, food and everyday goods may still be about to intensify.
Japan will begin a new system on June 23 to sell paint and thinner directly from manufacturers to construction firms and other businesses, aiming to ease supply bottlenecks and curb price increases as worsening conditions in the Middle East make such materials harder to obtain.
Japan's reliance on Middle Eastern crude oil has left manufacturers exposed to rising costs for plastic containers, ink and other products that use naphtha, but JEPLAN President Masaki Takao is pushing a recycling technology that could reduce the need for petroleum-derived raw materials by turning used plastic back into material close to new.
