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JAPAN

Copyright © 2021 Energy Intelligence Group

JAPAN -- A total of 2.08 million b/d of crude landed in July, with volumes rising by 145,000 b/d from June’s one-year low, according to data from the Ministry of Economy, Trade and Industry (PIW Aug.6'21). July volumes however dipped by 7,000 b/d from the same month a year ago. Imports from the United Arab Emirates, which is predominantly Abu Dhabi crude, jumped by 170,000 b/d from June to 818,000 b/d in July. This lifted the UAE to the top of Japan’s list of top crude suppliers for the month. Japanese refiners’ appetite for crude rose as processing units returned from planned maintenance and refining runs rose. Refining run rates recovered to a still low 71.3% in the week ending Jul. 31, rising considerably from run rates of just 61.5% around a month ago in the week ending Jul. 3, according to data from the Petroleum Association of Japan. Japan's Top Crude Suppliers ('000 b/d) Jul '21 Jun '21 Chg. Jul '20 Chg. Jan-Jul '21 UAE 818 648 170 711 107 783 Saudi Arabia 735 715 20 929 -194 934 Kuwait 232 204 28 142 91 197 Qatar 187 214 -27 160 27 227 Ecuador 23 42 -19 22 1 37 Bahrain 22 0 22 47 -25 32 Algeria 17 0 17 17 0 6 Russia 14 70 -56 24 -10 83 Oman 12 17 -4 0 12 13 Libya 7 0 7 0 7 2 Others 15 28 -14 38 -24 43 Total 2,083 1,938 145 2,090 -7 2,357 Source: Ministry of Economy, Trade and Industry

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