22.08.2013 - OPEC: Is China now more important than the U.S.?
According to the firm, Chinaís impressive and dynamic consumption will reach $500 billion in 2020, which will pass the U.S.ís 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 firmís Beijing-based president, William Durbin, told Reuters: ĒIt 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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