01-08-2017

Japan’s June oil sales fall to lowest for month in at least 29 yrs

oil

Domestic oil sales in Japan fell 0.7 percent to 2.70 million barrels per day (bpd) in June from a year earlier, marking the lowest volumes for the month in at least 29 years, data from the Ministry of Economy, Trade and Industry (METI) showed on Monday. Oil demand in the world’s third-biggest economy has been declining gradually for more than a decade, reflecting a falling population and a shift to more efficient vehicles and equipment. The data also showed that Japan’s crude oil imports in June fell 10.4 percent from a year earlier to 2.81 million barrels per day (13.39 million kilolitres), also the lowest for the month in at least 29 years, a METI official said. Meanwhile, Japan imported U.S. domestic sweet (DSW) blend crude for the first time last month, the METI official said, while Qatar’s Al Rayyan crude was imported for the first time since August 2014. The following table shows Japan’s crude imports and oil product sales in barrels per day.

Product/Volume June May M/M(%) Yr/Yr(%)

Crude Imports 2,807,649 2,782,534 0.9 -10.4

Crude Throughput 2,813,271 2,955,183 -4.8 -5.8

Direct crude 17,952 22,793 -21.2 -46.9

burn Oil product 2,695,748 2,689,368 0.2 -0.7

sales gasoline 868,138 875,453 -0.8 -0.4

kerosene 99,907 116,357 -14.1 16.4

naphtha 738,453 745,904 -1.0 2.6

Oil product 542,595 583,869 -7.1 33.5

imports gasoline 27,821 16,083 73.0 58.6

kerosene 949 – – naphtha 442,906 493,857 -10.3 32.1

Oil product 494,354 506,775 -2.5 -9.5

exports gasoline 49,910 37,275 33.9 355.1

kerosene 723 jet fuel 192,797 188,831 2.1 -16.4

gas oil 123,144 151,470 -18.7 -10.0

fuel oil B, C 119,059 115,370 3.2 -23.5

Refinery Output 2,648,516 2,715,673 -2.5 -4.9

gasoline 851,171 892,924 -4.7 2.0

kerosene 141,114 175,189 -19.5 3.4

naphtha 298,381 267,394 11.6 -7.1

jet fuel 278,908 287,385 -2.9 -6.1

gas oil 672,760 661,554 1.7 3.2

Month end June May M/M(%) Yr/Yr(%) Inventory

Crude 81.1 81.6 -0.6 -15.9

Products 59.1 59.7 -1.0 0.8

gasoline 11.3 11.9 -4.9 4.5

kerosene 9.9 8.7 13.1 -11.5

Refinery run June May M/M(pt) Yr/Yr(pt) rate (%) 79.8 83.9 -4.1 1.7

Source: Reuters 

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