Japan’s crude oil imports last year fell to the lowest level since 1988 as demand weakens amid a declining population and more efficient vehicles. The world’s third-biggest economy imported 195.5 million kiloliters of oil, or about 3.37 million barrels a day in 2015, a 2.3 percent drop from the previous year, according to preliminary data from the Ministry of Finance on Monday. That’s the lowest since 1988 when the nation imported 192.2 million kiloliters, data from the ministry shows. Japan’s oil-product demand peaked in fiscal year 1999 and has been in decline as the populace shrinks and as auto manufacturers build more fuel efficient vehicles, forcing refiners to cut capacity and consolidate . Lower crude prices, waning inflation expectations and a reversal in the yen’s declines have added pressure on the Bank of Japan to expand its already-record stimulus program even as cheaper commodities have helped narrow Japan’s trade […]