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OPEC: Is China now more important than the U.S.?

Posted on 22 August 2013

According to the firm, China’s impressive and dynamic consumption will reach $500 billion in 2020, which will pass the U.S.’s largest dollar amount on imports, $335 billion, by a healthy margin. In barrels per day, this will amount to 9.2 million bpd in 2020, while U.S. imports at that time stand to fall to 6.8 million bpd.
The firm’s Beijing-based president, William Durbin, told Reuters: ”It means the United States is becoming more North America-centric for its supply needs and China more dependent on Middle East and OPEC crude………………………………………..Full Article: Source


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