GENERAL

Price of Imported Oil Falls 53.6% in Japan 

Statistics compiled by the Japanese Ministry of Finance indicate that the average cif price of Japan's crude oil imports fell by 53.6% in the first five months of this year, from $27.77/B in January to $12.89/B in May. As a result of lower prices and of a decline in volumes, the monthly cost of crude imports declined by 59.1% over the same period, from $2.7bn to $1.1bn, reducing the share of oil in Japan's overall import bill...