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Sunday, January 21, 2018

CHINA BOOMING OIL IMPORTS

According to PIW July 10, China doubled crude oil imports the first five-month of 2000 compared to the same period in 1999.

Oil imports from the Middle East increased from 0.27 mbd in 1999 to 0.66 mbd in 2000, imports from Asia Pacific increased from 0.13 mbd in Jan-May 1999 to 0.22 mbd for the same period in 2000 and lastly oil imports from Africa doubled from 0.13 mbd to 0.31 mbd in 2000.  Domestic crude oil production has been virtually unchanged this year. China is the world 2nd largest energy consumer, and using for the largest part coal which is declining.

More about this development and other market information is found on the INTERTANKO tanker market pages on our web’s members' area.