Japan is expected to increase oil imports from the Gulf States, Kuwait China Investment Company (KCIC) said Sunday.
"As long as the nuclear reactors remain shut and there is no alternative source of energy in the short-run, energy imports are forecasted to rise further," KCIC said in its weekly analysis.
"This could lead to a significant surge in oil exports from the GCC, as Japan tries to keep up with energy demand, creating a deeper deficit," it said. After 31 years, Japan's annual trade deficit made a comeback in 2011, following a dismal performance throughout most of that year.
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