Japan oil data – Oct 2016

Published at 10:02 30 Nov 2016 by . Last edited 11:17 22 Aug 2019.

Japanese oil demand contracted for the 13th consecutive month, albeit by just 79 thousand b/d y/y, the smallest decline over this period, to 3.4 mb/d in October. Transportation fuels fared well—gasoline demand was up marginally by 1 thousand b/d y/y and jet demand was up by 13 thousand b/d y/y—as did petrochemical feedstock where LPG demand grew y/y for the fourth straight month, higher y/y by 51 thousand b/d. Naphtha demand, however, has contracted y/y in as many months and was down again in October by 37 thousand b/d y/y. Diesel declined in October, contracting by 24 thousand b/d y/y despite manufacturing PMI expanding at the fastest pace in nine months, at 51.4, having contracted in six out of the last 10 months this year. Demand for kerosene and fuel oil was down by 2 thousand b/d and 4 thousand b/d y/y respectively due to broadly normal temperatures in October, but heating demand for both fuels will pick up in November with snowfall arriving heavier and earlier than usual this year, especially as nuclear generation is hobbled through the winter.

Refinery runs fell by 0.12 mb/d y/y to a 16-month low of 2.92 mb/d due to refinery maintenance which reduced 0.68 mb/d of CDU capacity (higher y/y by 0.23 mb/d). Runs will pick up in November, with CDU maintenance pegged at 0.3 mb/d. Crude imports fell by 67 thousand b/d y/y as growth in Middle Eastern crudes (Saudi +0.21 mb/d y/y, Iran +49 thousand b/d y/y) were offset by huge declines from FSU (-0.23 mb/d y/y). Crude inventories have climbed over the past two months to 92.5 mb in October after hitting a 16-month low in August. Product inventories fell m/m by 3.4 mb with gasoline, naphtha, kerosene and fuel oil all falling below year-ago levels. Gasoline inventories in particular have fallen to a 22-month low of 9.7 mb.

Log in to download

Other Data review publications

Middle East oil demand - Sep 2019

Published 3 hours ago

2019-11 Oil - Data review - Middle East oil demand - Sep 2019 cover
Users licensed for the data service can access our Middle East oil data.Oil demand..

Read more

Europe oil data - Sep 2019

Published 4 hours ago

2019-11 Oil - Data review - Europe oil data - Sep 2019 cover
Users licensed for the data service can access our Europe oil data.Extract from demand:European o..

Read more

Canada oil data – Sep 2019

Published 3 days ago

2019-11 Oil - Data review - Canada oil data cover
We forecast that Canadian liquids production was lower m/m by 85 thousand b/d in September but hi..

Read more

Rig report

Published 3 days ago

No cover
Within this report you will be able to review the latest figures published by Baker Hughes by oil..

Read more

OECD Asia oil data – Sept 2019

Published 3 days ago

2019-11 Oil - Data review - OECD Asia oil data – Nov 2019 cover
Users licensed for the data service can access OECD Asia country level oil data.Oil pro..

Read more