SAUDIS OIL TO JAPAN UP 19.3%
PLATTS - Japan's crude oil imports from Saudi Arabia rose 19.3% month on month to an average of 1.39 million b/d in November, preliminary data released Thursday by the Ministry of Economy, Trade and Industry showed.
The Saudi crude imports in November were also up 12.5% from the same period a year earlier on a barrel-per-day basis.
METI data is released in kiloliters, which S&P Global Platts converts into b/d.
Japan's crude imports from key Middle Eastern producers including Saudi Arabia, Iran, Iraq, Qatar and Kuwait rose in November as various Northeast Asian end-users had switched focus away from North and Central American supply due to the onslaught of Hurricane Harvey in the late third quarter.
A string of loading schedule delays for US and Mexican crudes during August and September had encouraged many Japanese, South Korean and Chinese refining companies to concentrate their crude procurement for November delivery in the Persian Gulf market, Asian trade sources have said.
Japan's crude imports from the US fell almost 10% from October to 34,690 b/d, while the country's intake from Mexico in November tumbled 82.9% month on month to average 16,650 b/d.
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PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.
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