The substantial import of European products continues

Europe imported 5.15 mbd of products during the first quarter of 2002, which is 8% above the first quarter 2001 and the highest we have recorded for this period since 1988, but marginally lower than during the 2nd half of 2002 when average imports were 5.16 mbd.

OECD European products imports by type

Type products

2000

2001

1Q02

Gasoline

1.38

1.47

1.39

Middle Distillates

2.49

2.76

2.78

Residual Fuels

1.58

1.54

1.38

Looking at the type of products, the biggest products are middle distillates and the imports of these products have increased over the last three years from 2.5 mbd in 2000 to 2.8 mbd in 1Q02.  Imports of gasoline increased from 1.4 mbd in 2000 to 1.5 mbd in 2001, and declined to 1.4 mbd in 1Q02. Imports of residual fuels declined from 1.6 mbd in 2000 to 1.4 mbd in 1Q02.

The three biggest suppliers of products to Europe are the Former Soviet Union (0.83 mbd 1Q02, up from 0.71 in 2000), the Netherlands (also 0.83 mbd 1Q02, down from 0.89 in 2000), and the US (0.73 mbd 1Q02, down from 0.74 in 2000).  Total OPEC supplied 1.89 mbd in 2000, slightly down in 2001 to 1.86 mbd and they supplied 1.71 mbd in 1Q02. The biggest OPEC suppliers to Europe are Algeria (0.40 mbd 1Q02), Saudi (0.29 mbd 1Q02), UAE (0.28 mbd 1Q02), and Venezuela (0.19 mbd 1Q02).