Commodity Market Report

Japan product markets 2021 outlook to 2050

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03 August 2021

Japan product markets 2021 outlook to 2050

Report summary

Japan had a deficit of around 499,000 b/d of supply of total products versus demand in 2020. The overall deficit position is skewed by large deficits in LPG and naphtha, minor deficits for gasoline, jet / kero while diesel/gasoil and fuel oil were in surplus. As a mature economy pursuing higher efficiency and with aging population, Japan is forecast to see its oil demand fall at an average annual rate of 1.4% between 2019 and 2050. Demand reaches 1.8 million b/d in 2050. In light of this trend and faced with global refinery overcapacity when will more refinery rationalisations happen?

Table of contents

Tables and charts

This report includes 6 images and tables including:

  • Refineries in Japan
  • Refinery Throughput and Utilisation
  • Non-refinery supply by product
  • Non-refinery supply by source
  • Net Trade by Product
  • All Supply Balances

What's included

This report contains:

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    Japan product markets 2021 outlook to 2050

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