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Volume
44
Issue
2
27
Figure - 7
US tight oil production and oil rig count
3.Oil Trade
USA
In November 2017, US crude oil imports decreased by 79 thousand b/d or 1%
comparing with the previous month level to reach 7.6 million b/d. And US oil products
imports decreased by 56 thousand b/d or 2.7% to reach about 2 million b/d.
On the export side, US crude oil exports decreased by 531 thousand b/d or
29.8% comparing with the previous month level to reach 1.3 million b/d, whereas
US products exports increased by 82 thousand b/d or 1.6% to reach 5.3 million b/d.
As a result, US net oil imports in November 2017 were 314 thousand b/d or nearly
11.6% higher than the previous month, averaging 3 million b/d.
Canada remained the main supplier of crude oil to the US with 44% of total US
crude oil imports during the month, followed by Iraq with 9%, then Mexico with 8%.
OPEC Member Countries supplied 38% of total US crude oil imports.
Japan
In November 2017, Japan’s crude oil imports increased by 398 thousand b/d or 14%
comparing with the previous month to reach 3.3 million b/d. And Japan oil products
imports increased by 55 thousand b/d or 10% comparing with the previous month to
reach 612 thousand b/d.
On the export side, Japan’s oil products exports increased in November 2017, by 163
thousand b/d or 40% comparing with the previous month, averaging 573 thousand b/d.
As a result, Japan’s net oil imports in November 2017 increased by 290 thousand b/d or
9.4% to reach 3.4 million b/d.
Saudi Arabia was the big supplier of crude oil to Japan with a share of 42% of total
Japan crude oil imports, followed by UAE with 25% and Qatar with 8% of total Japan
crude oil imports.