by Subjectivist » Thu 09 Jul 2020, 09:26:57
As of 2019 China now imports 22% of the world oil supply compared to 12% for the USA.
Crude Oil Imports by Country
Global purchases of imported crude oil totaled US$1.056 trillion in 2019 reflecting strong demand from 117 countries, territories or islands.
Overall, the dollar cost of crude oil imports for all importing countries grew by 25.5% since 2015 when crude oil purchases were valued at $841.6 billion. Year over year, imported crude oil fell by -12.1% from $1.201 trillion for 2018.
Comparing metrics by continent, Asian countries bought the highest dollar worth of imported crude oil during 2019 with purchases costing $572.5 billion or 54.2% of the global total. In second place were European nations at 28.2% while 13.9% of worldwide crude oil imports were delivered to North America. Smaller percentages went to Latin America (1.5%) excluding Mexico but including the Caribbean, Africa (1.1%) then Oceania (also 1.1%) led by Australia and New Zealand.
Below are the 15 countries that imported the highest dollar value worth of crude oil during 2019.
China: US$238.7 billion (22.6% of overall imported crude oil)
United States: $132.4 billion (12.5%)
India: $102.3 billion (9.7%)
Japan: $73.1 billion (6.9%)
South Korea: $70.2 billion (6.6%)
Netherlands: $46.4 billion (4.4%)
Germany: $40.7 billion (3.9%)
Spain: $30.5 billion (2.9%)
Italy: $29.6 billion (2.8%)
United Kingdom: $24.5 billion (2.3%)
France: $24.4 billion (2.3%)
Singapore: $24.2 billion (2.3%)
Thailand: $22.3 billion (2.1%)
Taiwan: $21.3 billion (2%)
Belgium: $18.8 billion (1.8%)
Based on total cost, the listed 15 countries purchased 85.2% of all crude oil imported in 2019.
Among the above countries, the fastest-growing markets for crude oil since 2015 were: China (up 77.7%), India (up 41.4%), United Kingdom (up 33.2%) and Singapore (up 33.1%).
Only the United States experienced a reduction in what was paid for imported oil via a -0.2% drop over the 5-year period.
http://www.worldstopexports.com/crude-o ... y-country/
II Chronicles 7:14 if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land.