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According to data recently released by Japan's Ministry of Economy, Trade and Industry, compared with the same period last year, Japan's consumption of finished lubricants surged by 79% in August, and production increased by 31%.
Japan's consumption of finished lubricants in August was 123,000 kiloliters, compared with 69,000 kiloliters
in the same period last year, the Ministry of Economy and Industry reported.
Including exports, Japan's lubricant production in August was 200,000 kiloliters, up from 152,000 kiloliters
in the same period last year.
In March ~ June this year, Japan's monthly lubricating oil production exceeded 206,000 kiloliters, and then dropped to 194,000 kiloliters
in July.
Japan's imports of finished lubricants fell 31% and exports fell 13% in August, both the lowest since
January.
The Bank of Japan said in its Q3 Economic Activity and Price Outlook that despite factors such as rising commodity prices, the Japanese economy has recovered as the impact of the new crown pneumonia epidemic has weakened, which has effectively boosted Japanese lubricant demand
.
