• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 5 hours Starvation, horror in Venezuela
  • 27 mins The EU Loses The Principles On Which It Was Built
  • 7 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 3 hours Crude Price going to $62.50
  • 12 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 5 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 17 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 1 day California Solar Mandate Based on False Facts
  • 16 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 5 hours WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 16 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 18 hours Monsanto hit by $289 Million for cancerous weedkiller
Alt Text

Oil Claws Back Some Of This Week’s Losses

OPEC production has spiked, with…

Alt Text

The Weirdest Oil Lawsuit Of 2018

In a somewhat strange move,…

Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing for news outlets such as iNVEZZ and…

More Info

Trending Discussions

Japan Importing Less Crude Oil; Gives Iran, Russia Cold Shoulder

Gas pump

Japan’s crude oil imports dropped to 3.055 million barrels per day in October, down by 5.6 percent from September, the Petroleum Association of Japan (PAJ) said on Friday.

According to the association’s supply and demand of crude oil statistics, the country imported in October a total of 15,056,810 kiloliters of crude oil which is equal to 3.055 million bpd. This compares to 3.237 million bpd imported in September. The October crude imports were the lowest level of exports so far this year.

The average oil import price stood at US$45.17 per barrel, compared to US$45.52 for September.

In addition to the decline in Japan’s crude oil imports, crude oil shipments from Iran to Japan dropped by 33 percent in October, while those from Saudi Arabia jumped by 26 percent. Japanese imports from Russia plummeted by 48 percent, while imports from Mexico, although significantly lower in volume compared to the others, soared by 232 percent.

According to ClipperData, Japan is the fourth largest importer of OPEC crude oil, although volumes were flat on year-ago levels at 2.75 million bpd. OPEC ships more than 15 million barrels per day to Asia, amounting to over 60 percent of its exports mainly to China, India, South Korea and Japan. Related: Oil Markets Not Convinced OPEC Deal Can Kill The Glut

In August of this year, Japan’s imports from Iran, for example, had jumped, with the four major Asian importers of oil increasing their imports of Iranian crude by 81.4 percent on the year in August, the highest level in at least five and a half years. In August, Japan’s imports of Iranian oil increased 31.4 percent to 235,612 bpd.

Last year, total Japanese crude oil imports fell by 2.3 percent annually to around 3.37 million bpd, the lowest level since 1988 as demand weakened.

In 2015, the Middle East accounted for 82 percent of Japan’s imports, 1.2 percentage points lower than in 2014, while Russia’s share of Japanese imports inched up by 0.7 percentage points to come in at 8.8 percent.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment
  • EH on December 09 2016 said:
    Might be the HEDGE EFFECTS AND being held hostage to energy needs. The World caught on and moved on to more efficient and renewable sources,, kinda shot yourselves in the foot and should have been the Head,, now what.
  • EH on December 09 2016 said:
    Whoops there goes another bumbling, whoops,,,,there goes another

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News