Japan Refiners to Build Stocks

摘要

Japan's Ministry of Economy, Trade and Industry (Meti) has asked the private sector to rebuild crude and products stocks up to the required 70 days of demand ahead of summer. Meti had cut the requirement to 67 days in the immediate aftermath of the Mar. 11 earthquake and tsunami, and reduced it further to 45 days as several refiners remained off line (IOD Mar.23,p2). "In the event that fuel supply to the affected areas and other areas improves, the demand for gasoline will increase in summer as usual, and it is assumed that the demand for light oil etc. will rise due to reconstruction efforts after the earthquake," Meti said in a statement announcing that the new requirements had gone into effect on Saturday.