Bid & Tender

News

Kuwait’s Crude Oil Exports to Japan hit 3 Month-low in February

Kuwait’s crude oil exports to Japan fell by 8% in February 2020 for the first time in three months, Japan’s Natural Resources and Energy Agency said in a preliminary report.

 

Japan’s total oil imports from Kuwait stood at 7.5 million barrels or 259,000 barrels per day (bpd), according to a report.

 

On an annual basis, Japan’s crude imports decreased by 3.8% in February to reach 2.87 million bpd, down for the second consecutive month.

 

Oil shipments from the Middle East accounted for 89.3% of Japan’s oil needs whilst inched down by 0.8% when compared to the previous year.

 

Moreover, oil exports from the UAE, the largest oil exporter to Japan by 33.3%, increased by 33.3% to 1.02 million bpd, according to data.

 

Saudi Arabia came in the second place with imports of 962,000 bpd, down by 13.4%, followed by Qatar and Russia by 292,000 bpd and 87,000 bpd, respectively.

 

It is worth pinpointing that Kuwait is Japan’s fourth-biggest oil provider, accounting for 9% of its total crude imports.

BACK

Related News