Japan's Imports Fall

摘要

Japan's crude imports fell by 5% year-to-year in August, even as its imports of Iranian crude more than doubled, according to data from the Ministry of Economy, Trade and Industry. Total August crude imports dropped by 164,000 b/d compared to August 2012 and were off by 43,000 b/d from July (IOD Sep.2'13). The dip from July occurred even though refining throughput rose. Processing of imported crude increased by 167,000 b/d from July to reach 3.58 million b/d in August. Crude oil inventories fell by 11.61 million bbl from July to settle at 84.81 million bbl in August.