摘要China's oil import dependence had risen to 72% in 2017, while its net imports of various oil products, including crude oil, refined oil, liquefied petroleum gas (LPG) and other products, had climbed to 418.8 million tons, an increase by 10.7% over 2016. China's crude oil import reached 420 million tons, surpassed the United States for the first time, and China had become the biggest crude oil importing country in the world. Net export of the refined oil, mainly the diesel, continued to increase to 22.7 million tons, as driven by the oversupply situation of the domestic market. Last year, China's LPG import was 18.45 million tons, but its growth was diminishing. Oil price would continue to rise in 2018, while the domestic demand of refined oil would be maintained at a lower rate of growth. However, driving by new refining capacities to be brought online, it is estimated that the crude oil import would still be increased remarkably. LPG import would reach a new high due to the growth potential and strong demand for feedstocks in the petrochemical product market.
Abstract：China's oil import dependence had risen to 72% in 2017, while its net imports of various oil products, including crude oil, refined oil, liquefied petroleum gas (LPG) and other products, had climbed to 418.8 million tons, an increase by 10.7% over 2016. China's crude oil import reached 420 million tons, surpassed the United States for the first time, and China had become the biggest crude oil importing country in the world. Net export of the refined oil, mainly the diesel, continued to increase to 22.7 million tons, as driven by the oversupply situation of the domestic market. Last year, China's LPG import was 18.45 million tons, but its growth was diminishing. Oil price would continue to rise in 2018, while the domestic demand of refined oil would be maintained at a lower rate of growth. However, driving by new refining capacities to be brought online, it is estimated that the crude oil import would still be increased remarkably. LPG import would reach a new high due to the growth potential and strong demand for feedstocks in the petrochemical product market.
2018, Vol. 25 
