The UAE is closing the gap with Saudi Arabia to be Japan’s top crude and condensate supplier. Saudi Arabia continues to see volumes fall, albeit marginally, in 2019.
Japan imported 1.018mn b/d from Saudi Arabia in July, up on June’s 12 month low 929,200 b/d (MEES, 2 August), but it has seen volumes shrink year on year from 1.156mn b/d in the first seven months of 2018 to 1.112mn b/d in the same period this year. The UAE has closed the gap to its Opec ally this year, importing 851,000 b/d in the first seven months of the year, up from 744,000 b/d in the corresponding period last year. Japan imported a total 3.068mn b/d in July with volumes up marginally year-on-year from 3.022mn b/d in the first seven months of 2018 to 3.069mn b/d in the corresponding period this year. (CONTINUED - 217 WORDS)