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Mon 1 Dec 2008 06:55 AM

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UAE's oil exports to Japan reach 26.6mn barrels in Oct

Gulf nation is Japan's second largest supplier after Saudi Arabia, latest figures show.

Japan's imports of UAE crude oil reached 26.6 million barrels during October, representing 22.4 percent of the country's total imports of crude oil, latest figures reveal.

According to a statistical report released by Japanese Ministry of Economy, Trade and industry, Saudi Arabia was Japan's largest crude supplier during October with 38 million barrels, followed by the UAE, Iran, Qatar and Kuwait respectively.

The report said that Japan's crude imports dropped during that month to 118.9 million barrels, 66.5 percent of which were supplied by Arab countries, news agency WAM reported.

The figures are announced after OPEC on Saturday deferred a decision on a new oil supply cut amid signs that Saudi Arabia and its Gulf allies were demanding tighter adherence to restraints put in place over the past two months.

Gulf producers want to see strict compliance with recent output curbs of two million barrels a day before considering further reductions when the Organization of the Petroleum Exporting Countries meets in Algeria on Dec. 17.

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