While the occupation of French Indochina was the "final straw", the USA had been ramping up sanctions on japan for several years. Most likely you'd see a cutoff of all oil within a few months of the time OTL, and Japan is in the same cleft stick - settle a peace in China and end the war, or run out of petroleum in 18 months or so. The amount of petroleum products being sold to Japan before the final embargo was not sufficient to build up reserves, and was probably not enough for day to day usage so their reserves were being nibbled at.
If there is a war with Japan, the WPO idea of seizing islands and advancing west will still be in effect, although the number of islands to be seized will be smaller. However until production really ramps up these assets will still be in short supply. If France holds out longer, then probably French North Africa is never neutralized, but part of "Free France" from the get-go, since Italy did jump jump in as they did OTL, there won't be much of a North African campaign, and Yugoslavia, Greece/Crete are secure - no need for TORCH. If there is a prolonged campaign in France, this will eat up a lot of British troops, so if we posit France finally falls 6+ months in, it is unclear the UK will be much better off in terms of equipped/trained troops for service elsewhere than they were OTL. Certainly as long as they are fighting on the continent they won't be shipping a lot of resources to Malaysia.