23 / 32
Volume
44
Issue
3
23
Figure - 7
US tight oil production and oil rig count
3.Oil Trade
USA
In December 2017, US crude oil imports increased by 170 thousand b/d or 2.2%
comparing with the previous month level to reach 7.8 million b/d. And US oil products
imports increased by 208 thousand b/d or 10.5% to reach about 2.2 million b/d.
On the export side, US crude oil exports increased by 157 thousand b/d or 12.6%
comparing with the previous month level to reach 1.4 million b/d, whereas US
products exports decreased by 259 thousand b/d or 4.9% to reach 5.1 million b/d. As
a result, US net oil imports in December 2017 were 480 thousand b/d or nearly 15.9%
higher than the previous month, averaging 3.5 million b/d.
Canada remained the main supplier of crude oil to the US with 43% of total US
crude oil imports during the month, followed by Mexico with 10.3%, then Saudi
Arabia with 10%. OPEC Member Countries supplied 37% of total US crude oil imports.
Japan
In December 2017, Japan’s crude oil imports increased by 200 thousand b/d or 6%
comparing with the previous month to reach 3.5 million b/d. And Japan oil products
imports increased by 55 thousand b/d or 9% comparing with the previous month to
reach 666 thousand b/d.
On the export side, Japan’s oil products exports increased in December 2017, by
82 thousand b/d or 14% comparing with the previous month, averaging 653 thousand
b/d. As a result, Japan’s net oil imports in December 2017 increased by 173 thousand
b/d or 5.1% to reach 3.5 million b/d.