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Petroleum Devolopments
Figure - 7
US tight oil production and oil rig comt
(Million b/d)
3.Oil Trade
USA
In July 2016, US crude oil imports increased by 293 thousand b/d or
3.7% comparing with the previous month level to reach 8.3 million b/d,
whereas US oil products imports decreased by 142 thousand b/d or 5.8%
to reach about 2.3 million b/d.
On the export side, US crude oil exports increased by 94 thousand
b/d or 17.3% comparing with the previous month level to reach about
638 thousand b/d, and US products exports increased by 86 thousand b/d
or 2.3% to reach 3.9 million b/d. As a result, US net oil imports in July
2016 were 28 thousand b/d or nearly 0.5% lower than the previous month,
averaging 6.1 million b/d.
Canada remained the main supplier of crude oil to the US with 39%
of total US crude oil imports during the month, followed by Saudi Arabia
with 14%, then Venezuela with 10%. OPEC Member Countries supplied
40% of total US crude oil imports.
Japan
In July 2016, Japan’s crude oil imports increased by 12 thousand b/d
or 0.4% comparing with the previous month to reach 3.1 million b/d.
And Japan oil products imports increased by 138 thousand b/d or 33.5%
comparing with the previous month to reach 550 thousand b/d.
On the export side, Japan’s oil products exports increased in July 2016,
by 5 thousand b/d or 0.9% comparing with the previous month, averaging
579 thousand b/d. As a result, Japan’s net oil imports in July 2016 increased
by 145 thousand b/d or 5% to reach 3.1 million b/d.
Saudi Arabia was the big supplier of crude oil to Japan with a share
of 34% of total Japan crude oil imports, followed by UAE with 26% and
Qatar with 8% of total Japan crude oil imports.