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Japan’s Crude Imports In 2Q17 Average Lowest Since 1987

Oil

Japan’s crude oil imports in 2Q17 fell by 361K b/d q-o-q and 268K b/d y-o-y to 3.04M b/d, the lowest quarter since 2Q87, according to data from the Petroleum Association of Japan (PAJ). Import volumes have been declining amid shrinking domestic demand and refinery capacity reductions under a government mandate.