On Thursday, December 25th, the Japanese Ministry of Finance released data showing that the country's crude oil imports after customs clearance in November were 10,842,517 kiloliters, or 2,273,242 barrels per day, an increase of 7.0% compared to the same period in 2024. From January to November, the country's cumulative crude oil imports reached 123,132,094 kiloliters, an increase of 0.5% year-on-year.

Japan's crude oil imports in November increased by 7.0% year-on-year, with a cumulative increase of 0.5% from January to November, reflecting strong demand growth. As a major importer in the world, the growth in demand may push up the spot price of crude oil, and the bullish factors are obvious. But it is necessary to pay attention to global supply dynamics, and the rating is based on the positive impact of demand boosting.

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