Japan’s crude imports fell by a further 5.2% in Q3 to just 2.20mn b/d, down 26% on a year earlier and the lowest quarterly figure since the 1960s (see table)

At 2.50mn b/d for the first nine months of 2020 this leaves Japan well behind South Korea on 2.70mn b/d (MEES, 16 October) as the world’s number four crude importer. (CONTINUED - 521 WORDS)