Developmental Trend of the World Crude Oil Trade Spatial Pattern

Abstract

As per the data of world crude oil exploitation-reserve ratio, this paper analyzes the short, middle and long-term supply situation of the world oil trade; based on the demand forecasts by the International Energy Agency and US Department of Energy, proposes that North America, Asia and Europe will remain the world oil importing regions, while China, India, the United States and Korea will become the world’s largest importers; Finally, based on the supply and demand analysis, concludes the developmental trend of the world crude oil spatial pattern.
Key words: Crude oil; Trade pattern; Ratio of exploitation and reserve; Demand