Top imports of crude oil

CRUDE OILE AMONG TOP IMPORTS Five major suppliers for US are 00 00-0- US imports 72% of total crude oil from its major suppliers since 1997 1 Canada 1 Saudi Arabia I Mexico Ven ezuela I Irag US NET CRUDE OIL IMPORTS FROM THE FIVE COUNTRIES AVEMILLION -RAGED ALMOST 6.1 MILLION BARRELS PER DAY (BBL/D) IN 2012. 6.1 During 2012, Iraq replaced Nigeria as the fifth-largest supplier of US crude oil imports. • Share is raised around 64% in 2009 after tremendous decline in crude oil demand due to economic recession. US CRUDE OIL IMPORT SHAREINCREASE FROM 2011 TO 2012 16 14% 14 % Increase from 12 2011 to 2012 10 8% 6. 4% 4 3% Mexico Canada Saudi. Arabia Venezula Iraq -2 -4 -6 -8 -10 -12 -12% -14 CRUDE OIL PRODUCERS The Organisation of the Petroleum Exporting Countries (OPEC, 12 countries) is pumping enough oil to keep the oil markets more than satisfied. OPEC COUNTRIES INFLUENCE ON WORLD OIL SUPPLIESCorganization of the Petroleum Exporting Countries) Ecuador and Vene- They control OPEC is a group Each OPEC zuela are the two Imembers of OPEC approximately 70% of the of some of the world's most oil-rich countries country has a national oil in the Western world's total company (NOC). proven oil reserves Hemisphere OPEC's oil exports Overall OPEC OPEC's proven oil They produce 41% of the represent about 60% of the total percentage share at the end of 2012 stood at 81.2%. reserves currently stand at 1,199.71 world's total oil petroleum traded intemationally. supply billion barrels Proven oil reserves in 2013 (billion barrels) 80 Russia 48.01 Libya 141.35 Iraq 37.2 Nigeria 2986.6 Kuwait 97.8 UAE 173.105 Canada 154.58 Iran 297.6 Saudi Arabia 297.6 Venezuela Total supply in 2012(thousand barrels per day) 10397 Russia 1483 Libya 2524.1 Nigeria 2986.6 Iraq 2796.8 Kuwait 3213.2 UAE 3854.4 Canada 3538.4 Iran 11545.7 Saudi Arabia 2489.2 Venezuela WORLD OIL PRODUCTION FROM LAST DECADE 1996 63,317.67 6007 1995 61,282.65 70,941.59 59,949.60 1994 2010 3.32 % 58,805.19 1.32 % 2.22 % 72,834.52 1993 1.95 % -1.82% 2011 60,157.95 -2.25 % 73,066.48 2.67 % 0.11 % 1992 60,093.48 0.32 % 74,643.65 2012 -0.03 % 60,112.96 2.16 % 1991 -0.48 % I Year Change I Production WORLD CRUDE OIL CONSUMPTION FROM LAST DECADE I Consumption 66,970.88 1991 4.85 % 67,136.27 1992 0.25 % -0.02 % % 29'0 1.98 % 1.75% 67,587.53 1993 87,356.29 3.09 % 2011 0.35 % 87,371.34 1.67 % 2.26 % 68,927.09 2010 2.44 % 9661 71,712.41 1994 84,756.56 70,130.20 266 73,459.28 1995 2009 MAJOR CRUDE OIL CONSUMERS Russia India Japan China U.S 3.1 3.4 4.5 9.9 18.9 Millions of barrels per day KNOW "WORLD OIL MARKET" The world oil market is complicated. Companies are often thought of as the primary actors in this market, but governments play a large role as well. The United States has no national oil company. The largest three U.S.-based international oil companies (ExxonMobil, Chevron, and ConocoPhillips) are accountable to their shareholders, not the United States government. EXPECTED GLOBAL DEMANDS The global supply of crude oil is expected to be adequate to meet the world's demand for at least the next 25 years Global demand this year is expected to rise by 1.2% to 89.99 million barrels a day. In 2014, global demand is expected to rise 1.4% to 91.21 million barrels a day EIA PROJECTS 0.5% U.S. oil demand this year will inch up by 0.5% China's net oil imports will exceed those of the United States by October 2013 on a monthly basis and by 2014 on an annual basis. 4.1% China's oil-demand growth this year will be 4.1% http://gulfbusiness.com/2012/05/opec-says-oil-supply-is-plentiful/.UgYilzkn_JV http://www.eia.gov/tools/faqs/faq.cfm?id=38&t=6 http://www.eia.gov/tools/faqs/faq.cfm?id=38&t=6 http://www.eia.gow/energy_in_brief/article/world_oil_market.cfm http://www.greencarcongress.com/2013/04/eia-20130420.html http://www.indexmundi.com/energyaspx http://www.greencarcongress.com/2013/04/eia-20130420.html http://www.nasdaq.com/article/us-crude-oi-output-seen-topping-imports-20130806-01044 DESIGNED BY graphs.net 2008 2007 72,260.16 2006 71,320.88 71,736.94 2005 71,953.90 -0.58 % 1998 2004 -0.30% 70,573.30 74,109.43 1.96 % 666L 2003 4.97 % 67.230.52 75,872.74 % 68°0 0007 3.52 % 2002 64,943.32 76,779.14 % 887 -1.38 % % 6L'L 1.199 -0.62 % 2001 77,468.54 65,849.95 % 06'0 2001 4.65 % % 06'0 78,163.60 2002 66,263.88 -1.78 % 2000 1.98 % 1.82 % 63,322.39 79,708.27 3.58 % 82,564.87 2004 1999 1.82 % 64,468.21 % 06'0 1.27% 1998 9006 85,132.05 84,067.14 1997 2005 85.901.96 84,463.22 2007