The poorest OPEC member has overtaken Russia on oil supplies to China


Angola in July (latest available data) supplied to China of 1.1 million barrels. a day, to be published on 12 September, the monthly OPEC report on oil market. Compared to the previous month, a daily supply of Angolan oil to Chinese market increased by 207 thousand barrels.

Saudi Arabia, among oil suppliers to China in July, took second place (950 thousand Barr. a day). The total volume of oil imports by China in July decreased by 2%, to 7.3 million barrels. a day. In annual terms, imports grew by 1%. Data for Russia, not a member of OPEC, report no.

Angola, which with a GDP per capita of just over $4 million (world Bank data for 2015) is the poorest member of OPEC, often takes place in the three main sources of Chinese oil imports — for example, in February 2016, she won the second place on volume of deliveries. In addition, the top three includes Russia and Saudi Arabia, which in turn occupy a leading position. In particular, Russia was the leader in the supply of oil to the Chinese market in April and may, Saudi Arabia in June.

OPEC raised its forecast for growth in global demand for oil at 10 thousand barrels. in day — to 94,27 million barrels. The same amount was raised the forecast for global oil demand in 2017 — to 95,42 million barrels. a day.

According to the Ministry of energy of the Russian Federation in August, Russian oil exports declined from 20767 kt to kt 19426

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