Middle East Economic Survey

VOL. XLIX

No 51

18-Dec-2006

GENERAL

Chinas Oil Imports Set New Record On Strategic Reserve Fill

Chinas Customs agency reported on 11 December that the countrys crude oil imports reached a record monthly average level of 3.29mn b/d in November. Reuters quoted Purvin & Gertz analyst Victor Shum as saying, Part of it is stockpiling. Its now a known fact that China has begun, and may have taken advantage of the reduced crude prices of the last month. The previous record...