4 ms·
Ordinal stats aren’t too helpful here. For better reference they produce less than half of what Russia produces and less than a third of what the US produces.
by oneoff786 4y ago
Ordinal stats aren’t too helpful here. For better reference they produce less than half of what Russia produces and less than a third of what the US produces.
https://www.worldometers.info/oil/oil-production-by-country/ https://www.worldometers.info/oil/oil-production-by-country/
They consume about 3x what they produce
https://www.worldometers.info/oil/oil-consumption-by-country/ https://www.worldometers.info/oil/oil-consumption-by-country...
- bryanlarsen 4y agoHalf of Russian production or 30% of Chinese consumption is a massive amount of oil!
- oneoff786 4y agoIndeed. But 33% of what they need is not nearly enough.
- bryanlarsen 4y agoNo, but they're ramping up oil production at a tremendous rate, are the biggest EV market in the world and have a shrinking population. That 33% number is going to increase quite quickly.
- oneoff786 4y agoDoubtful. Those statements aren’t false, but they won’t hold up to the fact that the Chinese demand for oil is growing too.
- bryanlarsen 4y agoDepends on time period. Chinese demand will definitely go up in 2023 due to lockdown easing. But I think it'll go down in 2024 and subsequent years.
- oneoff786 4y agoIt’s been rising for the past decade including throughout the lockdowns