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Volume 42 Issue 2
oil Products
Crude Oil
Change from
October
2015
October
2015
November
2015
Change from
October
2015
October
2015
November
2015
6.882
6.675
0.207
-2.287
-2.159
-0.128
USA
3.260
3.122
0.138
0.016
-0.023
0.039
Japan
6.592
6.222
0.370
-0.148
0.203
-0.351
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 November 2015, China’s crude oil imports increased by 448 thousand
b/d or 7% to reach 6.7 million b/d, whereas China’s oil products imports
decreased by 107 thousand b/d or 10% to reach 978 thousand b/d.
On the export side, China’s crude oil exports reached 78 thousand b/d,
and China’s oil products exports increased by 244 thousand b/d or
27% to reach 1.1 million b/d. As a result, China’s net oil imports reached
6.4 million b/d, representing an increase of 0.3% comparing with the
previous month.
Russia was the big supplier of crude oil to China with 14% of total
China’s crude oil imports during the month, followed by Saudi Arabia with
13% and Angola with 9% .
Table (4)
shows changes in crude and oil products net imports/(exports)
in November 2015 versus the November month:
4. Oil Inventories
In November 2015,
OECD commercial oil inventories
remained
stable at the same previous month level of 2981 million barrels – a level
that is 246 million barrels higher than a year ago. It is worth mentioning
that during the month,
commercial crude inventories in OECD
decreased
by 8 million barrels to reach 1187 million barrels, whereas
commercial oil
products inventories
increased by 8 million barrels to reach 1794 million
barrels.
Commercial oil inventories in Americas
increased by 5 million
barrels to reach 1581 million barrels, of which 645 million barrels of crude
and 936 million barrels of oil products.
Commercial oil Inventories in