Saudis ship oil from Okinawa to China, Japan

摘要

Tokyo-Saudi Arabia supplied a total of around 2.45 million barrels of crude oil to China and Japan from its bonded storage tanks in Okinawa in May, a move that highlighted the strategic use of leased storage for crude oil sales into Asian markets by the Middle Eastern supplier. Japan’s crude stocks held by Saudi Arabia and Abu Dhabi decreased by 390,000 kl (2.45 million barrels) or 25.7% month on month to 1.13 million kiloliters or 7.11 million barrels in May, according to data released Friday by the Ministry of Economy, Trade and Industry.