|
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
![]() |
. | ![]() |
. |
|
![]() |
![]() by Daniel J. Graeber Vienna (UPI) Jul 18, 2013
Asia-Pacific economies took on more crude oil from OPEC in 2013 than any other region in the world, the organization said in an annual report published Friday. The Organization of Petroleum Exporting Countries said Asia-Pacific economies imported an average 14.3 million barrels of OPEC crude oil per day in 2013, or 59.3 percent of the oil exported by member states. Asian economies are growing at a faster rate than other major markets. OPEC said in its 97-page annual report oil demand rose most notably in China, Thailand and Indonesia. Europe, which is still struggling to emerge from recession, took an average 4.1 million bpd of OPEC crude last year, or 17.2 percent of its output, while North American imported an average 3.9 million bpd, or 16.3 percent of OPEC's crude. Oil production from North America, the United States in particular, has increased to the point that markets there are less reliant on foreign sources of crude oil. Total world crude oil production, however, increased by 0.1 percent from 2012 figures, though output from the 12 members of OPEC was down 2.5 percent year-on-year. "The overall OPEC share of total global production in 2013 averaged at 43.4 percent, slightly lower than in 2012, when it was 44.6 percent," the report said.
U.S. oil production not yet at parity with imports API said U.S. crude oil production increased 15.6 percent year-on-year last month to average 8.3 million barrels per day, the highest level for June in 28 years. Total oil imports, meanwhile, declined 5.7 percent from the previous year to average 9.2 million barrels per day, which API said was the lowest level for June since 1993. API Chief Economist John Felmy said the data show the United States is getting closer to energy independence. "Increased U.S. production in recent years has provided an almost barrel-for-barrel counterweight to various disruptions in global supply from overseas," he said in a statement. In terms of the strength of the domestic economy, API said total U.S. petroleum deliveries, an indication of demand, increased 1.5 percent year-on-year, with demand during the second quarter increasing 1.5 percent when compared to the same time last year. Production for gasoline, which accounts for much of the petroleum used in the United States, was at its second-highest level ever recorded in June. Demand for gasoline increased 4 percent in June year-on-year.
Related Links All About Oil and Gas News at OilGasDaily.com
|
![]() |
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |