Kuwait’s oil exports to Japan down 3.6% --- KUWAIT TIMES

TOKYO: Kuwait’s crude oil exports to Japan in November fell 3.6 percent from a year earlier to 7.00 million barrels, or 233,000 barrels per day (bpd), marking the second consecutive month of decline, government data showed Thursday. As Japan’s third-biggest oil provider, Kuwait supplied 9.0 percent of its total crude imports, compared with 9.4 percent in the same month of last year, the Japanese Natural Resources and Energy Agency said in a preliminary report. Japan’s overall imports of crude oil in November edged up 0.5 percent year-on-year to 2.59 million bpd, up for the first time in five months. Shipments from the Middle East accounted for 94.6 percent of the total, down 0.8 percentage points from the year before. By country, Saudi Arabia remained in the top spot, with imports from the kingdom jumping 18.1 percent from the year before to 1.11 million bpd, followed by the United Arab Emirates with 974,000 bpd, down 9.0 percent. Qatar ranked fourth with 121,000 bpd and the US fifth with 79,000 bpd, respectively. Japan is the world’s third-biggest oil consumer after China and the US. Crude oil up $1.62 In another development, the price of Kuwaiti crude oil went up by $1.62 during Wednesday trading to reach $83.07 per barrel, compared with $81.45 pb the day before, Kuwait Petroleum Corporation (KPC) said Thursday. In the global markets, Brent crude dropped by $1.42 to reach $79.65 pb, and West Texas intermediate lost $1.46 to reach $74.11 pb.— KUNA LAST UPDATE: DECEMBER 28, 2023 06:11 PM

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