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Petroleum Devolopments
Volume 41 Issue 10
32
3.Oil Trade
USA
In July 2015, US crude oil imports increased by 513 thousand b/d or
7.3% comparing with the previous month level to reach 7.5 million b/d,
whereas US oil products imports decreased by 103 thousand b/d or 4.6% to
reach about 2.1 million b/d.
On the export side, US crude oil exports increased by 66 thousand b/d or
13% comparing with the previous month level to reach about 572 thousand
b/d, and US products exports increased by 230 thousand b/d or 6.5% to
reach 3.8 million b/d. As a result, US net oil imports in July 2015 were 114
thousand b/d or nearly 2.2% higher than the previous month, averaging 5.3
million b/d.
Canada remained the main supplier of crude oil to the US with 41% of
total US crude oil imports during the month, followed by Saudi Arabia with
13% ,then Mexico with 11%. OPEC Member Countries supplied 37% of
total US crude oil imports.
Japan
In July 2015, Japan’s crude oil imports increased by 500 thousand
b/d or 17% comparing with the previous month to reach 3.4 million b/d,
and Japan oil product imports also increased by 44 thousand b/d or 8%
comparing with the previous month to reach 601 thousand b/d.
On the export side, Japan’s oil products exports decreased in July 2015,
by 2 thousand b/d or 0.4% comparing with the previous month, averaging
515 thousand b/d. As a result, Japan’s net oil imports in July 2015 increased
by 543 thousand b/d or 18.3% to reach 3.5 million b/d.
Saudi Arabia was the big supplier of crude oil to Japan with 33% of
total Japan crude oil imports, followed by UAE with 31% and Russia with
7% of total Japan crude oil imports.
Figure - 7
US tight oil production and oil rig comt
(Million b/d)