Iranian oil export share in the Japanese oil market rose up to 6.6% in light of 49,000 bpd growth in Iran’s oil exports in October.
Iran’s heavy crude oil in the week to December 16th experienced highest increase in price and reached $51.070 a barrel, showing $2.02 increase.
Ministry of Petroleum announced that Japan’s crude imports dropped to 67,000 barrels per day (bpd) in October 2016 compared to that in the same period the previous year and reached 3.055mn barrels per day.
Japan’s imports from Saudi Arabia rose by 205,000 bpd in October compared to that in the same period the year before and reached 1.262mn. Riyadh having a share of 41% in the country’s imports, is considered as the most important crude oil exporter to Japan.
Within the period under study, the UAE crude exports to Japan decreased by 1% or 9,000 bpd and reached 688,000 barrels per day.
The UAE with 23% share in Japan imports, stands second in the list of crude exporters to the country.
Qatar’s share in Japan’s imports is 7.2%. It stands as the third oil exporter to Japan.
According to the Petroleum Intelligence Weekly (PIW), export of crude oil to Japan by Kuwait and Iran rose by 22,000 bpd and 49,000 bpd respectively in October and reached 214,000 bpd and 202,000 bpd respectively.
The shares of Kuwait and Iran in Japan imports are seven and 6.6% respectively.
Kuwait and Iran are the fourth and 5th major crude exporters to Japan respectively.
