*Latest crude import data from Japan shows that the land of the rising sun imported just 2.47mn b/d for 2020, down 18% on 2019 and the lowest figure on over 40 years.

*Even though Korean crude imports also fell (by 9%) for 2020 (MEES, 15 January), Korea topped Japan for global number four importer spot for the first time (see chart). (CONTINUED - 262 WORDS)