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Japan’s crude oil imports declined in April to 3.93 mb/d, representing a decline of 278 tb/d or 6.6% from a month earlier. Y-o-y, this represents an increase of 479 tb/d or 13.9%. Product imports, including LPG, increased to 1.11 mb/d, which represents growth of 21 tb/d or 1.9% m-o m and a decrease of 30 tb/d or 2.7% on a y-o-y basis. Product exports, including LPG, increased in April by 54 tb/d or 13.3%, averaging 0.46 mb/d. On a y-o-y basis, there was an increase of 195 tb/d or 72.9%. As a result, Japan’s net oil imports decreased in April by 312 tb/d or 6.4% to 4.58 mb/d from a month before. On a y-o-y basis, there was an increase of 254 tb/d or 5.9%. The decrease can be attributed to the net trade in crude oil, which declined by 278 tb/d or 6.6% on a m-o-m basis.
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