Japan May Need 200,000 Extra Barrels of Oil Daily, IEA Says
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Oil demand in Japan may climb by about 200,000 barrels a day if the country makes up the shortfall in nuclear power with crude-fired generation, the International Energy Agency said.
Japan shut 11 atomic reactors totaling about 9.7 gigawatts of capacity after being struck on March 11 by its largest recorded earthquake. The country has enough spare oil-fired plants to make up the loss, using only 30 percent of the crude generation units in 2009, the IEA said in its monthly Oil Market Report today.