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Japanese refineries are increasing their purchases of US oil because US products are becoming cheaper compared to supply in the Middle East, and they are turning to American shale production to replace oil. Iranian supply, said industry sources.
JX Nippon Oil & Energy Refinery in Yokohama, Japan 07/02/2017 REUTERS / Kim Kyung-Hoon
Photo: Reuters
Increased purchases from refineries such as JXTG, the largest in Japan, should appeal to US President Donald Trump, who urges Japan to reduce its trade surplus with the United States, which exceeds the $ 63 billion in 2017.
About 4 million barrels of US oil are expected to arrive in Japan, the world's fourth-largest importer, between June and September, according to sources and shipping data
They will join the nearly 2.4 million barrels, worth 16.81 billion yen ($ 153 million) imported this year until May, according to the latest statistics from the Ministry of Finance.
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