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Volume
45
Issue
3
25
Figure - 7
US tight oil production and oil rig count
3.Oil Trade
USA
In December 2018, US crude oil imports decreased by 131 thousand b/d or 1.7% comparing
with the previous month level to reach 7.5 million b/d. And US oil products imports decreased
by 3 thousand b/d or 0.2% to reach about 1.8 million b/d.
On the export side, US crude oil exports increased by 35 thousand b/d or 1.5% comparing
with the previous month level to reach 2.4 million b/d, and US products exports increased by
133 thousand b/d or 2.5% to reach 5.6 million b/d. As a result, US net oil imports in December
2018 were 303 thousand b/d or nearly 20.1% lower than the previous month, averaging 1.2
million b/d.
Canada remained the main supplier of crude oil to the US with 54% of total US crude oil
imports during the month, followed by Saudi Arabia with 11%, then Mexico with 7%. OPEC
Member Countries supplied 31% of total US crude oil imports.
Japan
In December 2018, Japan’s crude oil imports decreased by 125 thousand b/d or 4% comparing
with the previous month level to reach 3 million b/d. And Japan oil products imports (except LPG)
decreased by 65 thousand b/d or 9% comparing with the previous month to reach 664 thousand b/d.
On the export side, Japan’s oil products exports increased in December 2018, by 60 thousand b/d
or 10.9% comparing with the previous month, averaging 611 thousand b/d. As a result, Japan’s net oil
imports in December 2018 decreased by 250 thousand b/d or 7.6% to reach 3 million b/d.
Saudi Arabia was the big supplier of crude oil to Japan with a share of 43% of total Japan crude oil
imports, followed by UAE with 25% and Qatar with 10% of total Japan crude oil imports.