Kuwait now Japan’s third-largest source of crude

KUWAIT CITY, May 10, 2016 – Kuwait has overtaken Qatar as the third-largest supplier of crude to Japan, behind Saudi Arabia and the UAE, preliminary government export data for March released on Tuesday showed.

In March, shipments to Japan hit a 14-month high of 334,000 bopd. Crude exports to the world’s third-largest oil importer that month – 10.35 million barrels – represented a year-on-year increase of 33.6% and neared the previous record of 10.89 million barrels, or 351,000 bopd, set in May 2015.

While Kuwaiti exports to Japan grew, the latter’s overall imports declined for the fourth consecutive month to reach 3.56 million bopd in March, down 3.4% from the same period in 2015.

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