{"id":1665,"date":"2016-06-15T02:51:47","date_gmt":"2016-06-15T02:51:47","guid":{"rendered":"http:\/\/asadkarim.co.uk\/?p=1665"},"modified":"2016-06-16T07:15:06","modified_gmt":"2016-06-16T07:15:06","slug":"chinese-oil-reserves","status":"publish","type":"post","link":"https:\/\/www.asadkarim.co.uk\/?p=1665","title":{"rendered":"Chinese Oil Reserves."},"content":{"rendered":"<p>China believe it or not, actually is a minor oil producer, with <strong>1.1% of the worlds reserves<\/strong>. That equates to <strong>18,500,000,000<\/strong>\u00a0 barrels.<\/p>\n<p>Of\u00a0course one has to realise that China consumes <strong>11,056,000 barrels<\/strong>\u00a0of oil <strong>a day<\/strong>.<\/p>\n<p>So what is the value of the 18,500,000,000 barrels ?<\/p>\n<p>So crude today trades at about $50.06 a barrel which is <strong>\u00a332.23<\/strong><\/p>\n<p>Thus:<\/p>\n<p>18,500,000,000 x \u00a332.23 = <strong>\u00a3651,895,600,000<\/strong><\/p>\n<p>That is<strong> \u00a3651 Billion<\/strong> which is about <strong>43% of annual UK GDP<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>China believe it or not, actually is a minor oil producer, with 1.1% of the worlds reserves. That equates to 18,500,000,000\u00a0 barrels. Of\u00a0course one has to realise that China consumes 11,056,000 barrels\u00a0of oil a day. So what is the value of the 18,500,000,000 barrels ? So crude today trades at about $50.06 a barrel which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1665","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1665"}],"version-history":[{"count":2,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1665\/revisions"}],"predecessor-version":[{"id":1671,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/1665\/revisions\/1671"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}