Growth in Saudi Arabia’s net foreign assets resumed in March

RIYADH: Kuwait’s crude oil exports to Japan climbed 12 percent in March, year-on year, to reach 6.28 million barrels, Kuwait News Agency reported. 

At 203,000 barrels per day, exports recorded the first increase in two months, according to government data.

The Japanese Natural Resources and Energy Agency revealed that Kuwait supplied up to 7.1 percent of the Asian nation’s total crude oil imports.

This comes as the Gulf country poses as Japan’s fourth-biggest oil provider.

In total, Japan crude oil imports surged 22.5 percent, when compared to the same period last year.

The UAE remains to be Japan’s top supplier with crude oil imports up 84.8 percent, when compared to a year earlier to hit 1.1 million barrels per day.

Saudi Arabia ranks second, with imports down 5.8 percent year-on-year to stand at 983,00 barrels per day. 

Qatar and Russia rank third and fifth, with 265,000 barrels per day and 104,000 barrels per day, respectively.

That said, crude oil shipments from the Middle East accounted for 93.3 percent of the total, up 2.8 percent for the year.