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Japan Oil Trade in October 2012

Source: OPEC 11/17/2012, Location: Asia

Japan’s crude oil imports experienced a small 19 tb/d or 0.5% monthly decline in September to average 3.6 mb/d. Y-o-y, they decreased in September by 15 tb/d or 0.4%. Saudi Arabia, the United Arab Emirates and Qatar were the top three suppliers to Japan in September. Saudi Arabia, as in the previous month, headed the list, accounting for 31% of total crude exports to Japan.

The UAE had a 23.8% share and Qatar 14%. These three countries saw export volume increases to Japan of 3%, 11% and 5% respectively. However, Kuwait decreased its exports to Japan by 89 tb/d or 25% from the previous month. On the other hand, product imports increased by 65 tb/d in September to average 694 tb/d, denoting a gain of 10.3% m-o-m and 0.2% y-o-y. The monthly product imports were considered to be the highest since February. As for Japan’s product exports, these declined by 38 tb/d or 7% in September to average 500 tb/d. Y-o-y, the decline was equal to 94 tb/d or 15.8%. Accordingly, Japan’s net imports rose by 83 tb/d in September to average 3.78 mb/d, reflecting a monthly and annual gain of 2.2%.

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