WORLD OIL AND PETROLEUM
Half Total Trade
Volume
Trade in oil and petroleum products accounts for half the world’s volume of international trade, and 10 per cent of the whole value, according to an item in the Australian Petroleum Information Bureau's bulletin. On an average day. says the bulletin, more than 316 million gallons of crude oil and petroleum products are transported internationally Exports of crude oil and refined products from the Middle East average more than 164 million gallon a day compared with 94} million gallons a day from the Caribbean area, which is the second largest exporting region Western Europe is the biggest buyer in international oil trade. This area imports crude oil and refined products at the average rate of 1381 million gallons a day.
The United States, even though it is the world's largest producer of crude oil. is th» second largest importer of oil and refined products with an average daily intake of 63} million gallons. Imports of crude oil and refined products into Australia are currently running at about 10 million gallons a day.
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Bibliographic details
Press, Volume CI, Issue 29714, 6 January 1962, Page 2
Word Count
180WORLD OIL AND PETROLEUM Press, Volume CI, Issue 29714, 6 January 1962, Page 2
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Acknowledgements
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