China may overtake the United States as the world's biggest oil importer for the first time this year, Russian media reported on April 2.
According to the Russian business advisory Daily reported on March 31st. Zhong Fuliang, deputy general manager of China International Petrochemical Co Ltd, predicts that China's oil imports will surpass their previous peaks this year, from 6.68 million barrels a day to 7.5 million barrels a day. He made the forecast at the 2016 Russia China oil and gas forum hosted by Agus media company in Beijing.
According to Bloomberg News Agency's report, Acciona energy research center expert Li Li had predicted that China's total foreign purchases of oil will reach 370 million tonnes this year, more than the 363 million tons estimated in the U.S. this year.
The report says China has become the world's largest buyer of oil because China has increased its oil imports (China's oil imports rose 8.8% in 2015, according to the general administration of customs), and the country's domestic oil production has risen, it has reduced American dependence on imports. U.S. oil imports have declined since 2005.
In addition, in February alone, China's oil imports exceeded 8 million barrels a day for the first time, more than the United states. (compile / Zhu Lifeng)