Japan’s crude oil imports rose 0.5% to 2.49 million barrels per day (144.66 million kilolitres) in 2021 from a year earlier, marking the first increase in nine years, preliminary data released by the Ministry of Economy, Trade and Industry (METI) showed.

Oil imports rebounded last year as fuel demand recovered from the pandemic-induced slump a year earlier.

The data, however, marks a contrast with customs data released by the finance ministry this month, which showed Japan’s imports of crude oil fell 1.2% in 2021 from a year earlier, recording a ninth straight year of decline.

Under METI’s data, crude oil imports represent the amount that directly enters refineries, oil stockpiling bases or oil terminals.

For December, the nation’s crude oil imports increased 13.6% to 2.97 million barrels per day (14.63 million kilolitres) from a year earlier, marking a fifth straight month of gains, METI said.
Source: Reuters (Reporting by Yuka Obayashi; Editing by Shailesh Kuber and Louise Heavens)