China has overtaken the US to become the world’s largest net oil importer, according to US estimates, as its steady increase in imports crosses over with the steep decline in America.
The US government’s Energy Information Administration said yesterday that in September the gap between oil consumption and domestic production averaged 6.24m barrels per day in the US, and 6.3m b/d in China.
Estimates from analysts vary, but the EIA said the trend was expected to continue next year.
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