Chinese barite faces a growing market
Published: Thursday, 15 December 2016
Chinese barite production and exports enjoyed a heady few years when the US oil boom was at its peak three years ago, but the decline in drilling activity since 2014 has seen a slowdown in demand for the oilfield mineral. However, in November 2016 there are signs of a recovery with US rig counts higher and a likelihood of oil prices increasing to $50-55/bbl. This will lead to increased consumption of barite in 2017, Ian Wilson, Consultant, finds.
By Ian Wilson, Consultant*
China is the largest producer of barite (barytes) in the
world and the second biggest consumer after the US. The country
accounted for approximately 40% of global production in 2015,
which the US Geological Survey (USGS) estimates stood at 3m
tonnes. Chinese domestic barite consumption is...