Japan Oil Imports Fall to Lowest Since 1988 as Demand Drops
- Shrinking population, improving efficiency cut crude demand
- Japan oil imports fall 2.3% to 195.5m kls in 2015: MOF data
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Japan’s crude oil imports last year fell to the lowest level since 1988 as demand weakens amid a declining population and more efficient vehicles.
The world’s third-biggest economy imported 195.5 million kiloliters of oil, or about 3.37 million barrels a day in 2015, a 2.3 percent drop from the previous year, according to preliminary data from the Ministry of Finance on Monday. That’s the lowest since 1988 when the nation imported 192.2 million kiloliters, data from the ministry shows.