Pacific Snapshot: Lower Japanese Demand Inflates Stocks

摘要

Shrinkage in the Japanese jet fuel market prompted refiners to ratchet back production in November. Output fell to 202,000 barrels per day even as utilization rates topped 90% of capacity. Consumption averaged 211,000 b/d or some 11% below yearago rates, as liftings for international flights dipped by 23%. A 14% gain in fuel usage for domestic flights offset part of that steep decline. Lower output cut into export flows, which averaged 40,000 b/d in November.