Japan’s clean oil product imports fall to eight-month low

Oil

Japan’s clean oil product imports declined by 80K b/d m-o-m and 25K b/d y-o-y to 499K b/d in February, the lowest level since June, according to data from the Ministry of Economy Trade and Industry (METI). Naphtha imports fell by 49K b/d m-o-m to 401K b/d, the lowest since March, pressured by weaker domestic and export demand for petrochemical products, according to Argus. Arrivals of jet fuel also fell by 32K b/d m-o-m to a four-month low of 59K b/d.