Kuwait’s crude oil exports to Japan hit nearly 2-year high, overtakes Qatar

Kuwait’s crude oil exports to Japan in January hit a 22-month high of 9.65 million barrels, or 311,000 barrels per day (bpd), overtaking Qatar to become Japan’s third-biggest oil provider, government data showed Wednesday.

Kuwait’s crude oil bound for Japan jumped 12.9 percent from a year earlier, up for the third month in a row, the Japanese Natural Resources and Energy Agency said in a preliminary report. The figure was the highest since March 2016, when it recorded 10.35 million barrels (334,000 bpd).

Japan’s overall imports of crude oil declined 1.1 percent year-on-year to 3.42 million bpd for the second straight month of drop. Shipments from the Middle East accounted for 89.5 percent of the total, up 3.4 percentage points from the year before.

Saudi Arabia remained Japan’s No.1 oil supplier, although imports from the kingdom shrank 14.9 percent from a year earlier to 1.23 million bpd, followed by the United Arab Emirates with 819,000 bpd, up 13.0 percent. Qatar ranked fourth with 304,000 bpd and Iran fifth with 203,000 bpd, respectively. Japan is the world’s-third biggest oil consumer after the US and China.

Source: Kuwait News Agency