Japan Oil Import Down 19% in September

October 21, 2013

The volume of Japan's customs-cleared crude oil imports fell 19.3 per cent in September from a year ago, marking the sharpest decline in 11 months, while LNG and coal imports also fell, reflecting sluggish power demand, Reuters reported on October 21.

Japan imported 3.52 million barrels per day (16.789 million kilolitres) of crude oil last month, preliminary data from the ministry showed, the Ministry of Finance said on Monday.

That marks the sharpest year-on-year decline since a 24.5 per cent fall recorded in October 2012, a ministry official said.

Cooler temperatures in September than the year before dented Japan's power demand by 4.1 per cent, pushing down consumption of oil for power generation by more than half, industry data showed earlier this month.

For the first half of the fiscal year ending in September, crude imports fell 5.2 per cent to 3.51 million bpd (102.1 million kilolitres), the data also showed.

Copyright: Reuters, 2013