OPEC Monthly Oil Market Report – September 2017
Table 8 - 2: Japan’s crude and product net imports, tb/d
crude oil imports
dropped in July by 608 tb/d, or 7%, from the previous month to average 8.2
mb/d, while crude imports in the previous month reached the second highest level on record. Despite the
monthly decline, China’s crude imports remained at high levels, showing an increase by 866 tb/d, or 12%, y-
o-y. The monthly drop came in line with lower refinery throughput, which decreased from the previous month
by almost 500 tb/d.
In terms of the
, Russia was the main supplier to China in July as its exports to
China averaged 1.2 mb/d, although its volumes dropped by 99 tb/d from one month before, Saudi Arabia
came in as the second top crude supplier to China for this month, holding a share of 12%, to average
942 tb/d, almost the same level as one month before.
On the other hand,
decreased in July by 337 tb/d from the previous month, while
they remained above the previous year by 86 tb/d to average 1.2 mb/d. The decline in product imports came
as a result of lower imports of Petcoke and LPG.
Graph 8 - 5: China’s imports of crude and petroleum products
Jul 17/Jun 17
Total crude and products
Sources: Ministry of Economy, Trade and Industry of Japan and OPEC Secretariat.
Sources: Argus China Petroleum and China, Oil and Gas Petrochemicals and OPEC Secretariat.