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Oil Trade
72
OPEC Monthly Oil Market Report – June 2016
Japan
Japan’s
crude oil imports
dropped in April by 93 tb/d, or 3%, to average 3.5 mb/d. On
an annual basis, crude imports were higher in April by 115 tb/d or 3%. Also, Japanese
refinery throughput dropped from the previous month.
As to the
suppliers
’ share, Saudi Arabia maintained their position as the largest crude
supplier to Japan, maintaining a 41% share of total crude imports with an increase in
volumes from the previous month by 222 tb/d. The UAE came in as the second largest
supplier to Japan with a share of 19% of total crude imports, although Japan’s imports
from the UAE decreased by 265 tb/d in April m-o-m. Qatar came in third place holding a
share of 10%. Japan’s imports from Qatar were up by 35 tb/d from the previous month.
Japan’s
product imports
went up in April by 47 tb/d to average 524 tb/d. At the same
time, Japan’s
domestic product sales
fell by 3.9% from last year.
Graph 8.3: Japan’s imports of crude and petroleum products
As to
product exports
, Japan’s exports in April were down from the previous month by
73 tb/d, to average 550 tb/d. Accordingly,
Japan’s net imports increased by 27 tb/d in
April to average 3.4 mb/d
, reflecting lower monthly and annual imports.
Graph 8.4: Japan’s exports of petroleum products
0
1
2
3
4
5
0
200
400
600
800
1,000
1,200
Apr 15
May 15
Jun 15
Jul 15
Aug 15
Sep 15
Oct 15
Nov 15
Dec 15
Jan 16
Feb 16
Mar 16
Apr 16
mb/d
tb/d
Others*
LPG
Naphtha
Fuel oil
Crude oil
Note: *Others: Contains gasoline, jet fuel, kerosene, gasoil, asphalt and paraffin wax.
Sources: Ministry of Economy, Trade and Industry of Japan and OPEC Secretariat.
0
100
200
300
400
500
600
700
0
100
200
300
400
500
600
700
Apr 15
May 15
Jun 15
Jul 15
Aug 15
Sep 15
Oct 15
Nov 15
Dec 15
Jan 16
Feb 16
Mar 16
Apr 16
tb/d
tb/d
Fuel oil
Gasoil
Jet fuel
Others*
*Others: Contains LPG, gasoline, naphtha, kerosene, lubricating oil, asphalt and paraffin wax.
Sources: Ministry of Economy, Trade and Industry of Japan and OPEC Secretariat.