Coherent Identifier About this item: 20.500.12592/rc6mch

Oil Market Review in Japan No.14/2021

15 July 2021

Summary

Contrary to the previous expectation, the OPEC plus Countries JMMC failed to reach an agreement on the cooperative crude oil production cut and broke down due to a conflict over the end period of the cooperative crude oil production cut in 2022 in the background of the UAE’s request for increasing crude oil production. [...] 14/2021 3 Petroleum products wholesale prices in Japan (1) Wholesale price revision trend During June 29-July 5, crude oil cost in yen increased from a week earlier with the slight increase in crude oil price and the depreci- ation of the yen to the US dollar. [...] Offshore cargo spot prices during the week June Futures Kerosene 64.7 63.5 ▲ 1.2 29-July 5 almost leveled off after the increase in a 121-122 yen/l Price range for gasoline and increased in a 65-67 yen/l range for kerosene Diesel oil 69.2 68.5 ▲ 0.7 and leveled off after the significant increase in a 69-71 yen/l range for diesel oil from a week earlier. [...] Crude oil cost in yen increased for the period from June 29-July 5 with the slight increase in crude oil price and the depreciation of the yen to the US dollar. [...] of the need for rational price recognition based on market and price-finding functions to be established in the oil industry and for business decisions based on recognition under the principle of self-responsibility.” In response to the report, this Center has published the Weekly Oil Market Review as a tool for oil-related people, business administrators (particularly service station managers) an.

Authors

Pages
6