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Middle East Exporters Maintain Grip On Korea’s Shrinking Crude Oil Market
...*Middle East exporters continue to dominate Korea’s steadily dwindling crude oil market. Korean crude imports over the first nine months of the year are down 2% to 2.77mn b/d, while the Middle East’s share of the total remains steady at 72%. Korean imports peaked at 3.03mn b/d in 2017 and ha...
Volume: 68Issue: 42Published at Fri, 17 Oct 2025 -
South Korea 2024 Crude Imports: UAE & USA Gain On Dominant Saudi
...*South Korea, the world’s number four crude importer after China, the USA and India, saw imports rise by just under 2% to 2.78mn b/d for 2024, though this remains 250,000 b/d shy of the record annual import figure of 3.03mn b/d set in 2017 (see chart & table). *Latest official Ko...
Volume: 68Issue: 03Published at Fri, 17 Jan 2025 -
Tunisia Oil & Gas Output Falls To New Record Lows
...8,000 b/d was hit in 1980. *Previous lows of 30,000 b/d plumbed in 2017 and 28,000 b/d in 2020 were linked to country-wide strikes (MEES, 2 June 2017) and Covid, respectively. This year’s new lows are the culmination of a chronic lack of investment: no development wells were drilled in Tunisia du...
Volume: 67Issue: 47Published at Fri, 22 Nov 2024 -
Egypt: Record Gas Deficit With Output At 7-Year Low
...*August saw Egypt post a new gas deficit (output minus consumption) record of 1.85bn cfd, surpassing the previous month’s record of 1.74bn cfd (MEES, 20 September). Gas output continues to slump, dropping to 4.58bn cfd, the lowest since March 2017 and down over 1bn cfd year on year according to...
Volume: 67Issue: 42Published at Fri, 18 Oct 2024 -
Japan Crude Imports: Record Mideast Market Share
...untries supplied 96.3% of Japan’s crude and condensate imports, putting this year on track to top last year’s record figure of 94.1% (see chart). *Saudi Arabia alone supplied 40.6%, up not only on 2022’s 38.0% but on the record 40.1% set in 2017, whilst the UAE’s 38.4% is also a re...
Volume: 66Issue: 26Published at Fri, 30 Jun 2023 -
Italy Imports Record Volumes Of Russian Crude
...erall crude imports leaping 16% year-on-year and by 23% versus Q1 to 1.35mn b/d for Q2, the highest figure since Q3 2019 and within 50,000 b/d of the all-time record set in Q4 2017. *Unlike, for example, TotalEnergies and Shell in northern Europe, Italy’s refining sector is dominated by in...
Volume: 65Issue: 32Published at Fri, 12 Aug 2022 -
Saudi Crude Burn Soars
...*Saudi Arabia’s crude oil burn jumped by 130,000 b/d to 582,000 b/d in May. Not just was this up a massive 185,000 b/d year-on-year, but it was the highest May figure since 2017 (see chart & p23 for full Saudi May oil data). Crude oil is burned in power and desalination plants where gas is no...
Volume: 65Issue: 29Published at Fri, 22 Jul 2022 -
Asian LNG Prices Steady As Korea Boosts Oman Volumes
...r 2017 to 2021 but has been overtaken by both China and India so far this year (MEES, 10 June). *Korea remains top LNG customer for the Middle East’s number two LNG exporter Oman (see p4). With Korean imports from Oman up 44% at 2.24mn tons for the first five months of 2022, Oman was just be...
Volume: 65Issue: 24Published at Fri, 17 Jun 2022 -
Saudi Foreign Reserves Edge Up Over April
...e second half of that year. They stabilized at slightly less than $500bn from 2017 onwards, before dropping sharply in early 2020 amid the huge Covid-19 disruption and bottomed out at $424bn in February. SAMA NET FOREIGN ASSETS EDGE UP TOWARDS END-2021 LEVELS IN APRIL ($BN) SO...
Volume: 65Issue: 22Published at Fri, 03 Jun 2022 -
Thailand: Record LNG Imports For 2021 As Qatar Remains Dominant
...figures of over 60% to 2017 (see table and chart). Short-haul supplier Malaysia is number two on 1.07mn tons. Oman supplied a record 255,000 tons (four cargoes), up from two cargoes for 2020. *With domestic output on a long-term downward trend, Thailand has little choice but to increase LN...
Volume: 65Issue: 10Published at Fri, 11 Mar 2022 -
Taiwan Crude Imports Edge Back Towards Normal; Mideast Share Still Depressed
...er 71% for both Q1 and Q2 compares to an average of 78% for 2017-19. Add in the record low figure of 69.2% for Q4 last year and the last three quarterly figures are the lowest since 2010. *Saudi Arabia remains number one supplier but saw volumes fall 5% year-on-year and 11% quarter-on-qu...
Volume: 64Issue: 27Published at Fri, 09 Jul 2021 -
Egypt Foreign Reserves Slump $5bn In 2020 Despite 2h Rebound
...*Egypt’s foreign reserves ended 2020 at $40.1bn, the lowest end-year figure since 2017 and down $5.4bn (12%) year-on-year. But it could have been much worse. *As of end May, reserves had collapsed to just $36bn as Covid-19 saw the Arab world’s most populous economy grind to a near ha...
Volume: 64Issue: 01Published at Fri, 08 Jan 2021 -
Benchmark Crude Prices ($/B)
...p20 Q3 2020 Q2 2020 Q1 2020 2020 (>10Dec) 2019 2018 2017...
Volume: 63Issue: 50Published at Fri, 11 Dec 2020 -
Turkey Imports Record Iraq, Saudi Crude In Q2 As Russia Sidelined
...pplier for 2019 as a whole. *Russia’s neighbor Kazakhstan has also been squeezed: from 66,000 b/d for 2019 and a quarterly record 88,000 b/d for Q3 last year to just 32,000 b/d for the most recent quarter. *Perhaps less surprisingly, Iran, which was Turkey’s top supplier for 2017 (wi...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Covid-19 Whacks Suez Canal Trade Volumes, Revenue
...th the Canal handling northbound shipments of Gulf crude, has also seen volumes fall sharply (MEES, 21 August). GROSS TONNAGE (MN TONS) SLUMPED TO JUST 84MN TONS FOR JUNE, DOWN 15% Y-O-Y REVENUE ($MN) IS AT THE LOWEST SINCE EARLY 2017 SOURCE: SUEZ CANAL AUTHORITY, CA...
Volume: 63Issue: 36Published at Fri, 04 Sep 2020 -
Thailand LNG Imports: Qatar Threatened By Malaysia, USA
...-year. But Qatar has rapidly been losing market share. From 60% in 2017, Qatar’s share fell to 46% in 2018, 38% in 2019 and 31% in 1H 2020. And it was just 23.4% for Q2, the second lowest quarterly figure since 2013. *Also for only the second time in seven years, Qatar lost top supplier sp...
Volume: 63Issue: 30Published at Fri, 24 Jul 2020 -
US Oil Stocks* Hit All-Time High As Demand Collapses
...JUNE) AND MAY DIFFER. SLIGHTLY FROM THE YET-TO-BE-PUBLISHED OFFICIAL END-MONTH FIGURES. **26 JUNE CRUDE STOCKS ARE JUST BEHIND MARCH 2017 (538.6MN BARRELS) AS THE HIGHEST END-MONTH FIGURE ON RECORD BUT 19 JUNE SET A WEEKLY RECORD OF 540.7MN BARRELS. SOURCE: EIA, MEES. SEE ANALYSIS, P11. ...
Volume: 63Issue: 27Published at Fri, 03 Jul 2020 -
Algeria To Italy Gas: 2019 Slump, December Leap
...LUMES WERE STILL LITTLE MORE THAN HALF 2016 & 2017 LEVELS (BCM) SOURCE: SNAM RETE GAS, MEES. ...
Volume: 63Issue: 01Published at Fri, 03 Jan 2020 -
China LNG Imports (Mn Tons): Qatar Volumes And Share Fall In 9m 2019 With Australia Pulling Away As Top Supplier
...PPLIER WITH 9M19 VOLUMES UP 29% Y-O-Y, THOUGH Q3 SAW THE FIRST QUARTERLY DIP SINCE 2017 QATAR, NUMBER ONE TO 2014, RISKS LOSING EVEN SECOND SPOT. 9M VOLUMES OF 5.7MN T ARE DOWN 13%, WITH MALAYSIA (1.87MN T) AHEAD IN Q3...
Volume: 62Issue: 44Published at Fri, 01 Nov 2019 -
Thailand 9M19 Crude Imports ('000 B/D): Mideast Volumes, Share At Historic Low
...stomers. *But Thai crude imports have slid so far in 2019, with Q2 and Q3 seeing the first two quarters of sub-1mn b/d imports since early 2017. UAE volumes have slid even further, to 250,000 b/d for Q2 and 242,000 b/d for Q3, the lowest quarterly figure this decade, whilst September’s 141,400 b/d is the lo...
Volume: 62Issue: 43Published at Fri, 25 Oct 2019