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Japan Oil Trade in November 2014

Source: OPEC 12/8/2014, Location: Asia

Japan crude oil imports saw a slight decline of 12 tb/d, or 0.4%, in September to average 3.3 mb/d. On a y-o-y comparison, crude imports showed a stronger decline of 349 tb/d or 10%. As to the suppliers’ share, as seen previously, Saudi Arabia, UAE and Qatar were the top suppliers to Japan in September. Saudi Arabia was the premier crude supplier to Japan holding a share of 31% of total crude exports to that country. The UAE came in as the second largest supplier to Japan with a share of 25% of total crude exports, while Qatar held the third position in September with a share of 9%. Imports from Saudi Arabia went up by 52 tb/d over the month before, while imports from both the UAE and Qatar declined by 80 tb/d and 124 tb/d, respectively.

Likewise, product imports dropped by 21 tb/d in September to average 566 tb/d, reflecting a loss of 4% m-o-m. Also, Japan’s oil product sales fell 6.9% in September from a year before. Regarding product exports, Japan’s exports in September were the highest since September 2013, averaging 554 tb/d, as they increased by 84 tb/d, or 18%, m-o-m. On a y-o-y comparison, the figure shows a drop of 43 tb/d or 7%. Accordingly, Japan’s net imports dropped by 117 tb/d in September to average 3.3 mb/d, down by 3% m-o-m and 9% y-o-y.

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