Kuwait's Crude Oil Exports to China Surge 65.0%

Kuwait's crude oil exports to China in August surged 65.0 percent from a year earlier to 1.47 million tons, equivalent to about 347,000 barrels per day (bpd), official data showed.

In the January-August period, Kuwait exported 325,000 bpd to the world's second-largest oil consumer, up 19.0 percent on the year, according to data released by the General Administration of Customs.

China's overall imports of crude oil in August rose 23.5 percent from a year earlier to a four-month high of 7.77 million bpd. Russia overtook Angola to become China's top supplier last month, with its shipments jumping 50.2 percent to 1.10 million bpd. It was the first time for Russia to hold the No.1 spot since May. 

Demand from China's local independent refineries, known as "teapot" refiners, has increased since the government began to allow them to import crude oil last year as part of its energy reforms.

Source : QNA