Economic

China set to overtake US as world’s largest oil importer by October

“China is on the cusp of overtaking the United States as the world’s largest importer of oil, according to the latest projections from the US Energy Information Administration (EIA). In a report published last week, the EIA said Chinese net oil imports will surpass US net imports by as early as October 2013. China will likely be the world’s largest net importer on an annual basis by 2014, and the EIA expects the gap to only widen from there.”

Source:China set to overtake US as world’s largest oil importer by October | The Verge

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