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Japan

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Japan's crude imports slumped by 324,000 b/d from May to 2.28 million b/d in June, their lowest level since last July, according to data from the Ministry of Economy, Trade and Industry (Meti). Imports from the United Arab Emirates, which is dominated by Abu Dhabi grades, led the decline, falling by 263,000 b/d from May to 904,000 b/d in June. Japanese refiners cut purchases of light, sour crudes considerably, with combined imports of Abu Dhabi Murban, Das and Umm Lulu tumbling by 234,000 b/d from May to 752,000 b/d in June. Japanese refining runs slumped significantly in June, with weekly run rates ranging from 68.6% to 70.6%, according to data from Petroleum Association of Japan (PAJ). In May, weekly run rates ranged from 71% to 82.8%.

Topics:
Oil Demand, Crude Oil, Refining
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