Japan’s clean oil product exports fall to eleven-month low in April
Japan’s clean oil product exports declined by 140K b/d m-o-m to 200K b/d in April, falling for the third consecutive month to the lowest level since May 2021, according to data from the Ministry of Economy Trade and Industry (METI). Gasoline exports tumbled by 80K b/d m-o-m to an eight-month low of 40K b/d, while jet fuel shipments also eased by 10K b/d m-o-m to 80K b/d. Clean oil product imports increased by 70K b/d m-o-m to 460K b/d however, supported by arrivals of naphtha which rose by 50K b/d m-o-m to 400K b/d after previously falling to the lowest level since June 2016 in March.
Crude oil imports rose by 40K b/d m-o-m and 260K b/d y-o-y to a four-month high of 2.92M b/d, with shipments from the Middle East increasing by 60K b/d m-o-m to 2.73M b/d.