News
& Events

Japan: Oil imports from Kuwait down 34.3% in July

30-08-2024

Japanese government data showed on Friday that crude oil imports from Kuwait fell by 34.3 percent in July compared to the same period in 2023, recording a decline for the tenth consecutive month. The data, issued by the Japanese Natural Resources and Energy Agency in a preliminary report, showed that oil imports from Kuwait amounted to 4.90 million barrels, equivalent to 158,000 barrels per day (bpd) in July. It added that Kuwait ranked third on the list of Japan's oil suppliers in July after shipments from it accounted for 7.9 percent of Japan's crude oil imports, compared to 10.5 percent in the same month last year. In total, Japan's total crude oil imports fell for the eighth consecutive time in July by 12.8 percent year-on-year to reach 2.04 million bpd. Shipments from the Middle East accounted for 97.6 percent of Japan's total oil imports, an increase of about 2.4 percentage points from last year. The UAE maintained its first place after imports from it increased by 3.4 percent compared to last year to reach one million barrels per day, followed by Saudi Arabia with shipments of 727 thousand barrels per day, down 11.2 percent. Qatar came in fourth place with shipments of 72 thousand barrels per day, and Ecuador came in fifth with shipments of 19 thousand barrels per day. Japan is the third largest oil consumer in the world after China and the United States.