KUWAIT CITY:Kuwait’s crude oil exports to China in July hit a four-month high of 1.60 million tons, an equivalent to 378,000 barrels per day (bpd), up 27.5 percent from a year earlier, official data showed.
The figure was the highest since March, when Kuwait’s crude shipments to the world’s second-biggest energy consumer reached 1.73 million tons (409,000 bpd), according to the General Administration of Customs.
China’s overall imports of crude oil in July edged up 1.2 percent from a year earlier to 7.35 million bpd, the lowest level in six months on daily basis. Angola overtook Saudi Arabia to be the country’s top supplier, with its shipments growing 23.2 percent to 1.1 million bpd. Saudi Arabia became second with 952,000 bpd, down 4.2 percent, followed by Russia, with exports from the country falling 14.3 percent to 763,000 bpd. Iraq ranked fourth and Iran fifth, respectively.
In its “Short-Term Energy Outlook” published last month, state-owned US Energy Information Administration said that China’s consumption of petroleum and other liquid fuels is forecast to grow by 0.4 million bpd in both 2016 and 2017, driven by increased use of gasoline, jet fuel, and hydrocarbon gas liquids, which more than offset decreases in diesel consumption.
