Israel saw its crude imports fall 12% year-on-year to 220,900 b/d for the first half of 2021 putting the country on track for the lowest annual figure since 2015.
Whilst most consuming countries saw their crude imports fall in line with demand for 2020, Israel was different: demand fell by 13% to a nine-year low 199,500 b/d but imports nevertheless rose 4% to a record 251,000 b/d as the country used the opportunity of low prices to stock up (MEES, 9 April). Kpler data shows a 3.6mn barrel month on month stockbuild for May 2020, taking crude stocks to a three-year high 21mn barrels. (CONTINUED - 619 WORDS)
