US Crude Oil Import Amount from OPEC Was 30-year Lowest

Posted: 11/24/2014 05:11:01   Hits: 1075
Because shale oil revolution brought about a surge capacity, US crude oil import amount from OPEC countries is the lowest in the past 30 years. It is was showed in August that OPEC share of US crude oil import fell to 40 percent, 2.9 million barrels per day, the lowest import amount since May 1985. US crude oil imports peak appeared in 1976, when 88 percent of US crude oil was imported from OPEC countries.

The impacts of shale oil revolution on OPEC member states vary, so there is internal divergence of OPEC on whether to cut production or not. Algeria and Libya's economy is therefore greatly influenced, while the impact on Saudi Arabia and Venezuela is relatively small. Standard Chartered Bank [micro-blog] analyst Paul Horsnell believes African countries have greater pressure.

OPEC meeting will be held in Vienna on November 27, investors pay more attention to the possibility of reduction agreement. Before that Kuwaiti oil experts said, Gulf oil producers led by Saudi Arabia may refuse to cut production in this week (November 24 - November 28) OPEC meeting in order to keep their market share. If Gulf countries have to choose between oil price increasing and market share, they would prefer the latter.
 
US Crude Oil Import Amount from OPEC Was 30-year Lowest
NO.2013 Valves catalog download
View and download valve product literature, sales brochures and more.
read more >>
News & Events
2017.08.30
What are Thread Valves?
A thread valve is the valve with the thread and can be classified into the internal thread valve and the external thread valve. This kind of valve is connected to the pipeline with the threaded connec...
2017.08.23
An Introduction of Swing Check Valves
A check valve is divided into the swing check valve (rotating around its center of gravity) and the lift check valve (moving along the axis). The check valve is one kind of the automatic valve, mainly...
2017.07.19
2017 China (Zhengzhou) International Water Equipment and Technology Exposition
Event: 2017 China (Zhengzhou) International Water Equipment and Technology Exposition Venue: Central China International Expo Center (No.210, Zheng Bian Road, Zhengzhou City, Henan Province) Date: 201...
2017.07.10
Comparisons of Pneumatic Ball Valves and Electric Ball Valves
(1) Pneumatic ball valves The pneumatic ball valve consists of the ball valve and the pneumatic actuator. It generally needs to be used in conjunction with accessories including the magnetic valve, ai...