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06:45 GMT
TOKYO, Aug 29 (KUNA) -- Kuwait's crude oil exports to China in July hit a
six-month high of 946,000 tons, equivalent to around 224,000 barrels per day
(bpd), up 52.2 percent from the previous month, latest government data showed.
The figure was the highest since January, when Kuwait's crude shipments to
the world's second-biggest energy consumer reached 1.09 million tons (258,000
bpd), according to the General Administration of Customs. The shipments fell
14.2 percent on the year.
China's overall imports of crude oil in July rose 19.6 percent from a year
earlier to a record high of 6.18 million bpd. Saudi Arabia remained country's
top supplier, with its shipments growing 16.1 percent to 1.25 million bpd,
followed by Angola with 814,000 bpd, down 0.5 percent. Oman became third, with
exports from the country surging 97.7 percent to 780,000 bpd.
China will surpass the US as the biggest crude oil importer by 2017 as its
economy continues to grow and as Chinese drivers push up demand for fuel, the
state-run China Daily reported last week, citing global energy consultancy
Wood Mackenzie.
According to the report, from 2005 to 2020, the amount of oil from the
Organization of the Petroleum Exporting Countries (OPEC) that China will
import is expected to rise from 52 percent to 66 percent within that
timeframe, the report said.
Comparatively, for the US, OPEC crude will fall to 33 percent of US total
imports, while Canadian crude will account for 60 percent of US imports, it
said. (end)
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