Kuwait's crude oil exports to China at 135,000 bpd

Kuwait's crude oil exports to China at 135,000 bpd

TOKYO- Kuwait’s crude oil exports to China in April stood at 552,000 tons, equivalent to around 135,000 barrels per day (bpd), the latest government data showed.

The shipments fell 34.8 percent from a year earlier, according to data released by the General Administration of Customs.

In the January-April period, Kuwait exported 170,000 bpd to the world’s second-largest oil consumer.

China’s overall imports of crude oil jumped 20.8 percent in April on the year to 6.81 million bpd, a record high on a daily basis.

Angola overtook Saudi Arabia as China’s top supplier last month, with its shipments growing 9.9 percent to 995,000 bpd, and followed by Saudi Arabia with 939,000 bpd, down 23.7 percent.

Oman became third with imports from the country surging 94.0 percent to 887,000 bpd. Iran ranked fourth and Iraq fifth, respectively.

China is the world’s No. 2 oil consumer after the US. Earlier this year, the US Energy Information Administration (EIA) said it projects China is likely to surpass the US in net oil imports on an annual basis by 2014 as US oil production and Chinese oil demand “increase simultaneously.”

The Middle East remains China’s largest source of crude oil imports, according to the EIA.-KUNA

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