Global Economic Indicators: China s Oil Demand January 28, 216 Dr. Edward Yardeni 16-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents China Oil Demand 1-3 China Imports 4- January 28, 216 / Global Economic Indicators: China s Oil Demand www.
11.2 1.6 1. 9.4 8.8 8.2 7.6 7. 6.4.8.2 4.6 4. 3.4 2.8 2.2 1.6 Figure 1. CRUDE OIL DEMAND (million barrels per day, 12-month average) China (1.8) 87 88 89 9 91 92 93 94 9 96 97 98 99 1 2 3 4 6 7 8 9 1 11 12 13 14 1 16 17 Source: Oil Market Intelligence. China Oil Demand 11.2 1.6 1. 9.4 8.8 8.2 7.6 7. 6.4.8.2 4.6 4. 3.4 2.8 2.2 1.6 2 Figure 2. CRUDE OIL DEMAND 2 1 1 1 China (6.1) 1-87 88 89 9 91 92 93 94 9 96 97 98 99 1 2 3 4 6 7 8 9 1 11 12 13 14 1 16 17 Source: Oil Market Intelligence. - Page 1 / January 28, 216 / Global Economic Indicators: China s Oil Demand www.
2 Figure 3. China Oil Demand CHINA: CRUDE OIL DEMAND & INDUSTRIAL PRODUCTION 2 2 Crude Oil Demand* (6.1) Industrial Production (.8) 2 1 1 1 1-1998 1999 2 21 22 23 24 2 26 27 28 29 21 211 212 213 214 21 216 217 - * Using 12-month average. Source: Oil Market Intelligence and IMF International Financial Statistics. Figure 4. CRUDE OIL OUTLAYS* (billion dollars, annualized) 4 4 3 2 China 3 2 1 1 87 88 89 9 91 92 93 94 9 96 97 98 99 1 2 3 4 6 7 8 9 1 11 12 13 14 1 16 17 * Total China daily crude oil demand multiplied by 36 days and by the price of Brent crude oil. Source: Energy Intelligence Group, "Oil Market Intelligence" and Haver Analytics. Page 2 / January 28, 216 / Global Economic Indicators: China s Oil Demand www.
2 1 Figure. CHINA: CRUDE OIL DEMAND & REAL GDP Real GDP China Oil Demand Crude Oil Demand (using 12-month average) 2 1 1 1-88 89 9 91 92 93 94 9 96 97 98 99 1 2 3 4 6 7 8 9 1 11 12 13 14 1 16 17 18 Source: Oil Market Intelligence. - 11. 1.6 1.2 9.8 9.4 9. 8.6 8.2 7.8 7.4 7. 6.6 6.2.8.4. 4.6 4.2 3.8 Figure 6. CHINA: CRUDE OIL DEMAND & INDUSTRIAL PRODUCTION Crude Oil Demand (millions of barrels per day, 12-month average) Industrial Production (2=1, sa) 1998 1999 2 21 22 23 24 2 26 27 28 29 21 211 212 213 214 21 216 217 Source: Oil Market Intelligence and IMF International Financial Statistics. 34 32 3 28 26 24 22 2 18 16 14 12 1 8 6 4 2 Page 3 / January 28, 216 / Global Economic Indicators: China s Oil Demand www.
32 28 Figure 7. CHINA IMPORTS (billion dollars, saar, ratio scale) China Imports 32 28 24 2 Petroleum, Petroleum Products, & Related Materials 24 2 16 12 16 12 8 8 4 4 1998 1999 2 21 22 23 24 2 26 27 28 29 21 211 212 213 214 21 216 217 Source: Haver Analytics. 4 Figure 8. CHINA IMPORTS 4 3 Petroleum, Petroleum Products, & Related Materials 3 2 2 1 1-1 1998 1999 2 21 22 23 24 2 26 27 28 29 21 211 212 213 214 21 216 217 Source: Haver Analytics. -1 Page 4 / January 28, 216 / Global Economic Indicators: China s Oil Demand www.
24 22 2 18 Figure 9. CHINA IMPORTS (billion dollars, saar, ratio scale) China Imports 24 22 2 18 16 16 14 14 12 12 1 8 Total Imports Ex Petroleum, Petroleum Products, & Related Materials 1 8 6 26 27 28 29 21 211 212 213 214 21 216 217 Source: Haver Analytics. 6 8 Figure 1. CHINA IMPORTS 8 6 4 Total Imports Ex Petroleum, Petroleum Products, & Related Materials 6 4 2 2-2 -2-4 26 27 28 29 21 211 212 213 214 21 216 217 Source: Haver Analytics. -4 Page / January 28, 216 / Global Economic Indicators: China s Oil Demand www.
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