Kuwait's crude oil exports to China at 157,000 per barrel

GMT 10:56 2014 Wednesday ,23 July

Arab Today, arab today Kuwait's crude oil exports to China at 157,000 per barrel

Kuwait oil
Tokyo - KUNA

Kuwait's crude oil exports to China in the first half of this year stood at 3.87 million tons, equivalent to around 157,000 barrels per day (bpd), the latest government data showed.
The shipments from Kuwait to China in the January-June period fell 9.6 percent from the same period of the last year, according to the General Administration of Customs.
In June alone, Kuwait supplied 74,000 bpd for the world's second-biggest energy market.
China's overall imports of crude oil in June rose 5.0 percent from a year earlier to 5.69 million bpd. Saudi Arabia remained China's top supplier last month, with its shipments edging up 0.4 percent to 957,000 bpd, followed by Oman with 664,000 bpd, up 51.5 percent. Angola became third but its shipments fell 17.2 percent to 659,000 bpd. Russia ranked fourth and Iran fifth, respectively.
According to estimates by the US Energy Information Administration (EIA), China made up nearly a third of global oil demand growth in 2013. The EIA projects that China is likely to surpass the US in net oil imports on an annual basis in 2014 as US oil production and Chinese oil demand increase simultaneously. China's oil demand growth hinges on several factors, such as domestic economic growth and trade, power generation, transportation sector shifts, and refining capabilities, the statistical agency within the Department of Energy said.

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