Kuwait’s crude oil exports to China up 45.1 pct

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Kuwait’s crude oil exports to China in June jumped 45.1 percent from a year earlier to 1.36 million tons, equivalent to around 327,000 barrels per day (bpd), government data showed. Kuwaiti shipments of crude oil to the world’s second-biggest energy consumer exceeded 300,000 bpd level for the second consecutive month, according to the General Administration of Customs.

China’s overall imports of crude oil grew 3.8 percent in June on the year to 30.62 million tons (7.49 million bpd). Saudi Arabia overtook Russia to secure the top spot, although its shipments declined 14.1 percent to 1.1 million bpd, followed by Russia with 1.0 million bpd, up 8.6 percent. Angola became third, increasing 22.5 percent to 909,000 bpd. Iran ranked fourth and Oman fifth, respectively.

In its “Short-Term Energy Outlook” published earlier this 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. (KUNA)

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