Japan's Refinery Utilization Hits 73% as Strategic Oil Stocks Flow In

AI Briefing

• – Japan's refinery utilization rate is above 70% for the first time since March
• – Crude supply crunch eases with releases from petroleum reserves and increased supply of non-Middle East crude
• – Utilization rate rose to 73.3% in the week to May 9, up from 77.3% the week prior