NO. 50



Japanese Petroleum Imports Soar in July

According to the latest statistics published by the Japanese Ministry of International Trade and Industry (MITI), crude oil imports soared to 4.46mn b/dand petroleum products to 1.02mn b/d in July, or an increase over the previousmonth of 39.6% and 42.7%, respectively. These sharp rises in oil importsfollowed 16.5% and 56% increases in May and 23 and 22.4% increases in June.

The oil tax rise on 1 August was the...