Japan refinery runs rise above 70 percent on stockpiles
Japanese refineries raised runs to 73.3 percent using record stockpiles and alternative crude. Firms seek higher rates by bypassing the Strait of Hormuz.
Japan refineries increased oil processing to 77.3% of capacity in early May, the highest level since March. Refiners tapped 75 days of government stockpiles to offset supply gaps after the Strait of Hormuz closed. Stabilizing fuel production protects the Japanese economy from energy shocks during the Iran-Israel conflict.
Utilization rates climbed to 77.3% in the week to May 2 and remained at 73.3% through May 9, per Petroleum Association of Japan (PAJ) data. These figures rose from below 70% throughout April. This recovery follows the government's release of reserves equal to 75 days of consumption, the largest oil release in the nation's history.
