Kuwait's Crude Oil exports to China Jump 46.2 PercentSource: www.export-egypt.com 11/24/2015, Location: Middle East |
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Kuwait's crude oil exports to China in the first 10 months of this year surged 46.2 percent from the same period of 2014 to 280, 000 barrels per day (bpd), government data showed. In October alone, Kuwait exported 193,000 bpd to the world's second-largest oil consumer, down 17.2 percent on the year, according to the General Administration of Customs.
China's overall imports of crude oil in October grew 9.4 percent from a year earlier to 6.23 million bpd. Saudi Arabia overtook Russia to regain the top spot, although its shipments shrank 12.5 percent to 943,000 bpd, followed by Angola with 860,000 bpd, up 19.6percent. Russia, which was the No.1 crude oil supplier to China last month, slipped to the third despite its 23.8 percent jump to 807,000 bpd. Oman ranked fourth and Iraq fifth, respectively. According to the "Short-Term Energy Outlook" report issued earlier this month by the US Energy Information Administration (EIA), China continues to be the main driver of non-Organization for Economic Cooperation and Development (OECD) oil consumption growth, despite the slowdown in the country's economic growth. China's consumption growth is expected to average 0.3 million bpd in 2015 and in 2016, below the 0.4 million bpd growth in 2014, the EIA, the statistical agency within the Department of Energy, estimates. |
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