Saudi Arabia Announces Cut in Oil Supply to Japan

Posted by Bill Belew on April 15th, 2010 in Japan, Japanese Products | Comments Off

Japan got about 29% of its crude oil from Saudi Arabia in 2005. The amount of oil coming from Saudia Arabia will drop 7-8% starting next month.

The companies in Japan that will be hit are Nippon Oil Corp., Idemitsu Kosan Co., Cosmo Oil Co. and Japan Energy Corp.saudi arabia flag.jpg

Unlike California where gasoline prices can jump 30 cents in a weekend because some guy showed up late to work in Alaska one morning, Japan is predicing that the cut in oil supplies will have NO effect on prices.

Now, why is that?

Why is it that Japan’s major oil supplier can cut distribution by 7-8% and no one see it at the pumps?

Perhaps the governator could send someone to Japan to learn the secret.

What do you think?


 

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