Organization of Arab Petroleum Exporting Countries
Petroleum
Devolopments
Volume 40 Issue 5
31
Total Products
Crude Oil
Change from
January
2013
January
2014
February
2014
Change from
January
2014
January
2014
February
2014
-
0.016
-
1.957
-
1.973
-
0.094
7.407
7.312
USA
0.099
0.254
0.155
-
0.049
3.999
3.950
Japan
-
0.410
0.628
0.218
-
0.650
6.630
5.980
China
Source: OPEC Monthly Oil Market Report, various issues 2014.
On the export side, Japan’s oil products exports increased in February
2014, by 81 thousand b/d or 17% comparing with the previous month,
averaging 548 thousand b/d, the highest level seen since September 2013, As
a result, Japan’s net oil imports in February 2014 decreased by 148 thousand
b/d or 3.5% to reach 4.1 million b/d.
Saudi Arabia remained the main supplier of crude oil to Japan with 31%
of total Japan crude oil imports, followed by UAE with 23% and Qatar with
13% of total Japan crude oil imports.
China
In February 2014, China’s crude oil imports decreased by 622 thousand
b/d or 9% to reach 6.0 million b/d, and China’s oil products imports decreased
by 414 thousand b/d or 33% to reach 841 thousand b/d, the lowest level seen
since August 2012.
On the export side, Chinese crude oil exports increased by 27 thousands
b/d or 142% comparing with the previous month to reach 46 thousand b/d,
the highest level seen since August 2013 ,and Chinese oil products exports
remained stable at the same previous month level of 623 thousand b/d.
As result, China’s net oil imports reached 6.2 million b/d, representing a
decrease of 15% comparing with the previous month.
Saudi Arabia remained the main supplier of crude oil to China with 19% of
total China’s crude oil imports during the month, Angola with 16%, followed
by Russia with 12% of total China’s crude oil imports.
Table (3)
shows changes in crude and oil products net imports/(exports) in
February 2014 versus the previous month:
Table 3
USA, Japan and China Crude and Product Net Imports / Exports
( Million bbl/d)
