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Petroleum Devolopments
Volume 41 Issue 12
24
oil Products
Crude Oil
Change from
August
2015
August
2015
September
2015
Change from
August
2015
August
2015
September
2015
-
0.370
-
1.509
-
1.878
-
0.285
7.140
6.855
USA
0.099
-
0.056
0.043
-
0.231
3.494
3.263
Japan
-
0.016
0.317
0.301
0.580
6.228
6.808
China
Source: OPEC Monthly Oil Market Report, various issues 2015.
Table 4
USA, Japan and China Crude and Product Net Imports / Exports
( Million bbl/d)
China
In September 2015, China’s crude oil imports increased by 541 thousand
b/d or 8.6% to reach 6.8 million b/d, and China’s oil products imports
increased by 126 thousand b/d or 10% to reach 1.2 million b/d.
On the export side, China’s oil products exports decreased in September
2015 to reach 12 thousand b/d. Whereas China’s oil products exports
increased by 142 thousand b/d or 17% to reach 978 thousand b/d. As a
result, China’s net oil imports reached 7.1 million b/d, representing an
increase of 8.6% comparing with the previous month.
Russia was the big supplier of crude oil to China with 15% of total
China’s crude oil imports during the month, followed by Saudi Arabia with
14% and Oman with 11% and.
Table (4)
shows changes in crude and oil products net imports/(exports)
in September 2015 versus the previous month:
4. Oil Inventories
In September 2015, OECD commercial oil inventories increased by 13
million barrels to reach 2988 million barrels – a level that is 239 million
barrels higher than a year ago. It is worth mentioning that during the month,
commercial crude inventories in OECD increased by 8 million barrels
to reach 1169 million barrels, and commercial oil products inventories
increased by 5 million barrels to reach 1819 million barrels.
Commercial oil inventories in Americas increased by 14 million barrels
to reach 1578 million barrels, of which 620 million barrels of crude and
958 million barrels of oil products. Commercial oil Inventories in Europe