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Japan's JX set to lower crude runs but product exports hit record high

Oil

Japan's largest refiner JX Nippon Oil & Energy Corporation has said that it will reduce its crude runs for domestic consumption in September by 5% y-o-y to 0.94M b/d, Reuters reports. For comparison its August crude refining for domestic use was 1.05M b/d, down 2% y-o-y. In contrast, declining domestic demand led JX's oil product exports in August to reach a monthly record high of 189K b/d.