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Kuwaiti crude oil exports to Japan rose to 9.6 million barrels last August

01-10-2022

Japanese government data showed today, Friday, that Kuwaiti crude oil exports to Japan achieved their highest rise last August in the last 31 months, which amounted to 9.60 million barrels, equivalent to 310 thousand barrels per day, making it the third largest supplier of oil to Japan. The Japanese Natural Resources and Energy Agency said in a preliminary report that oil prices to Japan rose by 68.8 percent from the previous year, achieving the first increase in three months. The agency added that Kuwait has overtaken Qatar to become the third largest oil supplier to Japan, as it provided 10.4 percent of Japan's total imports of crude. It noted that Japan's total imports of crude oil grew by 9.3 percent on an annual basis to 2.98 million barrels per day, an increase for the thirteenth consecutive month. The Middle East's oil exports to Japan constituted 94.5 percent of its total exports, up 2.4 percentage points from the previous year. According to the data, Saudi Arabia returned to be the largest supplier of oil to Japan, as imports from the Kingdom rose by 19.7 percent from the previous year to 1.19 million barrels per day, followed by the United Arab Emirates with 1.55 million barrels per day. Qatar ranked fourth with 221,000 barrels per day, and the United States fifth with 81 thousand barrels per day. Japan is the third largest consumer of oil in the world after China and the United States.