Japan’s domestic oil product demand except for power generation is forecast to fall 1.6% year on year to 169.348 million kl, or 2.92 million b/d, in fiscal 2016-17 (April-March), according to a forecast presented by the Ministry of Economy, Trade and Industry Friday. METI’s 2016-17 forecast is part of its five-year oil demand outlook based in kiloliters, which excludes a forecast for fuel oil demand for power generation due to uncertainty over nuclear plant restarts. Under the forecast approved Friday by the ministry’s oil market trends working group under its oil and natural gas subcommittee, Japan’s oil product demand except for power generation is to fall an average 1.7% annually over the next five years to 157.761 million kl (2.72 million b/d) in 2020-21. For fiscal 2016-17, Japan’s overall oil product demand will decline on the year except for kerosene and gasoil. Kerosene demand is forecast to edge up […]