Peak Oil in Asia (part 1)
According to data recently published in BP’s 2016 Statistical Review Asian oil production remained at around 8.3 mb/d for 4 years now.
Fig 1: Asian oil production
We see the dominance of China (52% of total). The peak for all other Asian countries together was already in 2000, 15 years ago, followed by decline of around 0.9% pa which has now accumulated to around 600 kb/d (equivalent to 60% of Australia’s consumption). Since 2000, China was able to offset this decline and grow the Asian system but this has stalled now as confirmed by the latest data from the National Bureau of Statistics in China.
Fig 2: China crude oil production
Data are from here: http://data.stats.gov.cn/english/easyquery.htm?cn=A01
No matter how this Asian production plateau evolves it is dwarfed by ever rising Asian consumption. Let’s have a look at net oil imports country by country, alphabetically:
Fig 3: Australia’s oil balance
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