قاطـــرة الطلــب العا٠لــي علــى النفــط - OAPEC

Organization of Arab Petroleum Exporting CountriesChinaChina’s crude oil imports went up inSeptember , by 0.4% from the previous monthto reach 4.99 million b/d, Chinese imports of oilproducts were down by 88 thousand b/d or 8.6%to average 0.94 million b/d.In September 2011, China crude oilexports increased by 51 thousand b/d to reach80 thousand b/d, Chinese total product exportsalso increased by 155 thousand b/d or 29.1%from the previous month to reach 0.69 millionb/d. As result, China net oil imports reached5.1 million b/d, representing a decrease of274 tb/d or 5.0% compared to the previousmonth.Saudi Arabia remained top crude supplier,accounting for 0.96 million b/d of China’s totalcrude oil imports. Angola came next with 0.64million b/d, Iran with 0.51, Oman and Russiawith 0.46 and 0.41 million b/d respectively.Table (3) shows changes in crude and productsnet imports/(exports) in September 2011 versusthe previous month:4. Oil InventoriesIn September 2011, OECD commercial InSeptember 2011, OECD commercial inventorieswere down by 21 million bbls comparing to theprevious month level to 2651 million barrels,a level that is 98 million barrels lower than ayear ago. It is worth mentioning that during themonth crude inventories in OECD decreased by26 million barrels to 909 million barrels, whereproducts inventories increased by 10 millionbarrels to 1726 million barrels.Inventories in North America decreased by10 million barrels, to 1337 million barrels, fromwhich 465 million barrels crude and 872 millionbarrels products. Inventories in Europe alsodecreased by 15 million barrels, to 904 millionbarrels, from which 294 million barrels crude and610 million barrels products. In contrast, Pacificinventories were up by 4 million barrels fromthe previous month level to 410 million barrels,from which 150 million barrels crude and 260million barrels products.In the rest of the world, inventories weredown by 4 million barrels to 1665 millionTable - 3USA, Japan and China Crude and Product Net Imports / Exports( million b/d)Crude OilTotal ProductsSeptember2011August2011Change fromAugust 2010September2011August2011Change fromAugust 2010USA8.7719.173-0.402-0.4440.2920.196Japan3.6023.504984670.4642China4.9164.947- 312500.494-243Source: OPEC Monthly Oil Market Report, various Issues 2011.Volume 37 Issue 1212