Kuwait’s crude oil exports to Japan fell by 8% in February 2020 for the first time in three months, Japan’s Natural Resources and Energy Agency said in a preliminary report on Tuesday.

Japan’s total oil imports from Kuwait stood at 7.5 million barrels or 259,000 barrels per day (bpd), Kuwait News Agency (KUNA) reported.

On an annual basis, Japan’s crude imports decreased by 3.8% in February to reach 2.87 million bpd, down for the second consecutive month.

Oil shipments from the Middle East accounted for 89.3% of Japan’s oil needs whilst inched down by 0.8% when compared to the previous year.

Moreover, oil exports from the UAE, the largest oil exporter to Japan by 33.3%, increased by 33.3% to 1.02 million bpd, according to data.

Saudi Arabia came in the second place with imports of 962,000 bpd, down by 13.4%, followed by Qatar and Russia by 292,000 bpd and 87,000 bpd, respectively.

It is worth pinpointing that Kuwait is Japan’s fourth-biggest oil provider, accounting for 9% of its total crude imports.

 

Source: Mubasher

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