Japanese Oil Imports Rise 3.9% in October

Japan’s crude oil imports in October increased 3.9 percent from a year earlier to 102.65 million barrels, marking the first rise in eight months, a government agency said Friday.

Oil from the Middle East rose for the third consecutive month accounting for 85.2 percent of the total, up 2.5 percentage points from the same month last year, the Agency for Natural Resources and Energy said in a preliminary report.

Saudi Arabia remained Japan’s largest oil supplier, providing 36.99 million barrels, up 20.0 percent. One barrel equals 0.159 kiloliter.

The United Arab Emirates came second with 26.86 million barrels, up 15.6 percent, followed by Russia with 8.62 million barrels, down 14.7 percent.

Japan’s output of fuel oil edged up 0.9 percent in the first gain in seven months to 14.63 million kl. Domestic sales of fuel oil dropped for the seventh straight month, standing at 14.91 million kl, down 2.5 percent.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza