Japan's Ministry of Economy and Trade released data on Wednesday (December 28) that Japan’s total annual sales of petroleum products fell 3.4% in November, hitting a new low in 26 years. This data shows that despite the dramatic increase in fuel consumption for power generation after the March earthquake disaster, it still failed to recover the overall demand for oil.
Detailed data released by Japan’s Ministry of Economy and Trade shows that Japan’s total oil product sales fell to 16.24 million kiloliters, or 3.4 million barrels per day, in November, the lowest since November 1985.
The sharp decline in sales mainly came from the sharp drop in B- and C-fuel demand for power generation. Due to the earthquake disaster in March, the nuclear power plant was damaged and unable to generate electricity. At that time, in order to make up for the shortage of electricity, the demand for this type of fuel increased by 51.3%.
According to officials from the Ministry of Industry and Commerce, gasoline sales fell by 2.7%, and diesel demand fell by 4.7%. This was due to the expiry of the toll collection period of highway tolls earlier this year.
Japan imported an average of 3.55 million barrels of crude oil per day in November, down 12.7% from 2010, which was the first time in three consecutive months of decline. Among them, imports from Iran fell by 38% to 228,000 barrels per day.
Officials of the Ministry of Economy, Trade and Industry stated that due to the warm weather in November 2011, the demand for kerosene fell by 14.7%.
Detailed data released by Japan’s Ministry of Economy and Trade shows that Japan’s total oil product sales fell to 16.24 million kiloliters, or 3.4 million barrels per day, in November, the lowest since November 1985.
The sharp decline in sales mainly came from the sharp drop in B- and C-fuel demand for power generation. Due to the earthquake disaster in March, the nuclear power plant was damaged and unable to generate electricity. At that time, in order to make up for the shortage of electricity, the demand for this type of fuel increased by 51.3%.
According to officials from the Ministry of Industry and Commerce, gasoline sales fell by 2.7%, and diesel demand fell by 4.7%. This was due to the expiry of the toll collection period of highway tolls earlier this year.
Japan imported an average of 3.55 million barrels of crude oil per day in November, down 12.7% from 2010, which was the first time in three consecutive months of decline. Among them, imports from Iran fell by 38% to 228,000 barrels per day.
Officials of the Ministry of Economy, Trade and Industry stated that due to the warm weather in November 2011, the demand for kerosene fell by 14.7%.
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