*Japan imported a quarterly record 494,000 b/d of UAE flagship export grade Murban in Q2. This follows the 29 March launch of Murban futures trading on ICE Futures Abu Dhabi and accompanying reforms which saw a switch to forward pricing and an end to destination restrictions on the light and relatively sweet grade (MEES, 12 March).
*Imports of Saudi Arab Extra Light (AXL), Japan’s top choice on an annual basis for each of the past ten years, slid to 293,000 b/d for Q2, the lowest quarterly figure in well over a decade. Indeed AXL was behind Arab Light as the top Saudi grade for both Q1 and Q2 this year (see chart 1 and table for full data). (CONTINUED - 564 WORDS)
