30 Apr 2020 | 10:13 UTC — Tokyo

JAPAN DATA: Middle East share of crude imports rises to highest since 1968 on UAE boost

Highlights

Intake of UAE's Murban, Upper Zakum crude doubled in March

Saudi crude imports dropped 14% on year

Crude imports from Russia, US also fell

Tokyo — Japan's share of crude oil imports from the Middle East in March rose to the highest level since 1968 as the country significantly boosted imports from the UAE, while cutting intake from Russia and the US.

The Middle East share was 93.7% in March compared with 90.5% a year earlier as crude imports from the UAE surged 71.8% year on year to 1.21 million b/d, further raising Japan's exposure to the region, preliminary data released Thursday by the Ministry of Economy, Trade and Industry showed.

Japan's Middle East oil import share was last higher at 93.9% in March 1968, according to METI data.

The UAE crude imports in March were boosted by increased intake of Murban and Upper Zakum, both of which more than doubled year on year to 479,719 b/d and 250,046 b/d, respectively. Das crude imports from the UAE jumped 25.4% year on year to 385,381 b/d in March.

The increased imports from the UAE, which was Japan's largest crude supplier for the second consecutive month, came as Saudi Arabian crude imports dropped 14.4% year on year to 1.09 million b/d in March.

Crude imports from Qatar and Kuwait, the third and fourth largest suppliers, increased 7.9% and 34.7% year on year respectively to 305,839 b/d and 291,440 b/d.

The crude imports from Russia, the fifth largest supplier, and the US, the 10th largest, plunged 44.5% and 85% year on year, respectively, to 91,224 b/d and 9,637 b/d .

Countries
Mar 2020 (b/d)
Share (%)
Mar 2019 (b/d)
% chg on year
Feb 2020 (b/d)
% chg on month
United Arab Emirates
1,209,275
38.7
703,837
71.8
1,016,056
19.0
Saudi Arabia
1,089,860
34.9
1,273,126
-14.4
962,238
13.3
Qatar
305,839
9.8
283,345
7.9
291,792
4.8
Kuwait
291,440
9.3
216,349
34.7
258,858
12.6
Russia
91,224
2.9
164,321
-44.5
87,390
4.4
Kazakhstan
49,769
1.6
0
n/a
65,411
-23.9
Bahrain
30,614
1.0
47,519
-35.6
17,970
70.4
Malaysia
22,722
0.7
13,239
71.6
0
n/a
Ecuador
20,432
0.7
23,735
-13.9
42,085
-51.5
United States of America
9,637
0.3
64,268
-85.0
36,290
-73.4
Other
3,605
0.1
422,357
-99.1
94,160
-96.2
Total
3,124,417
100.0
3,212,097
-2.7
2,872,250
8.8
Countries
Jan-Mar 2020
Jan-Mar 2019
% chg on year
United Arab Emirates
1,056,917
778,151
35.8
Saudi Arabia
1,043,141
1,264,240
-17.5
Qatar
299,591
268,379
11.6
Kuwait
290,319
241,762
20.1
Russia
95,040
142,729
-33.4
Bahrain
38,526
72,187
-46.6
Kazakhstan
37,799
0
n/a
Ecuador
30,959
31,986
-3.2
United States of America
25,661
95,254
-73.1
Oman
24,237
53,661
-54.8
Other
42,048
239,939
-82.5
Total
2,984,239
3,188,288
-6.4

Source: Ministry of Economy, Trade and Industry

Editor:

Claudia Carpenter