Lubricant consumption in Japan rose sharply in September

According to data recently released by the Ministry of Economy, Trade and Industry, Japan's consumption of finished lubricants surged by 34% in September, lubricant production jumped 32%, and lubricant exports increased by 20%.

Meanwhile, Japanese lubricant imports fell to their lowest level
since mid-2020.

According to the Ministry of Economy, Trade and Industry, Japan consumed 187,000 kiloliters of lubricants in September, compared to 140,000 kiloliters
in the same period last year.
This is the highest monthly consumption since April recorded consumption of 194,000 kiloliters
.
Japan's lubricant production rose to 228,000 kiloliters in September, exports rose to 69,000 kiloliters, and imports fell 76% year-on-year to 07,000 kiloliters, the lowest level
since June 2020.

In its Economic Activity and Price Outlook released in October, the Bank of Japan said the Japanese economy improved
as economic activity resumed, despite factors such as high commodity prices.
Japan's Ministry of Economy, Trade and Industry believes that economic recovery is the reason
for the sharp rise in lubricant consumption in September.