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Kuwait's crude oil exports to China hits 6-month high

BEIJING, Oct 27 (KUNA) -- Kuwait's crude oil exports to China jumped 64.5 percent in September from a year earlier to a six-month high of 1.17 million tons, equivalent to around 285,000 barrels per day (bpd), latest government data showed.
Volume of Kuwaiti crude oil shipments to the world's second-biggest energy consumer marked the highest level since March, when it hit 1.25 million tons (295,000 bpd), according to the General Administration of Customs.
China's overall imports of crude oil last month grew 7.4 percent on the year to 27.58 million tons (6.74 million bpd).
Saudi Arabia remained country's top supplier, but its shipments fell 2.7 percent to 1.16 million bpd, followed by Angola with 843,000 bpd, down 13.2 percent. Russia emerged third place, with imports from the country surging 56.7 percent to 695,000 bpd. Oman ranked fourth and Iraq fifth, respectively.
According to estimates by the US Energy Information Administration (EIA), China made up nearly a third of global oil demand growth in 2013. The EIA projects that China is likely to surpass the US in net oil imports on an annual basis in 2014 as US oil production and Chinese oil demand increase simultaneously. (end) mk.rk