Chart, oil : imports drop by 30 % in november

After a small orgy of oil imports from august to october (due to the subsidies and the drop of oil price)… we can see a dramatic downturn in november with a drop of 30 % year on year (from 809 000 barrels per day in november 2007 to 565 000).

And compared to the previous month (october 2008), the drop is 32 %.

Something is clearly happening…

oilnov1

But because Thailand exports oil too, we need to have a look at the net imports (imports minus exports) in order to really gauge the demand.

oilnov2

It’s even worse with a drop of 39 % (from 542 000 bpd in november 2007 to 328 000).

There is a good point though : the amount of the oil bill is falling. So it’s good for the trade balance.

(source EPPO)

1 Response to “Chart, oil : imports drop by 30 % in november”


  1. 1 antipadshist 25 January 2009 at 8:27 am

    TC

    check it out:

    Max Keiser ‘s BBC show THE ORACLE January 23rd 2009

    it is hillarious in usual Max’s style, which you might find quite similar to your own sarcasm.


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