Japanese and South Korean refiners such as SK Corp and Nippon Oil Corp have been linked to a kerosene production cut before the onset of winter. The warmer than expected weather that has been predicted to hit the northern hemisphere has been given as the reason behind the possible cut back along with the abnormally high current price of kerosene.
With forecasters predicting a mild winter this year, many utilities in both countries are making plans to delay the idea of boosting kerosene stockpiles.
The cut in production has affected suppliers along the line with sales at S-Oil Corp, Idemitsu Kosan Co and other Korean and Japanese refiners also falling. Furthermore, according to data supplied by Bloomberg Data, Asia's largest oil trading centre, Singapore, has already recorded a 6.6% fall in demand for kerosene shipments in December.
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