China to Overtake US as Top Crude Importer

摘要

China will overtake the US as the world's biggest crude oil importer by 2017 as Chinese motorists drive domestic oil demand higher, consultancy Wood Mackenzie said on Tuesday. China is on track to spend $500 billion on crude oil imports by 2020, far outstripping the peak cost ever incurred by the US on crude imports of $335 billion, Wood Mackenzie said in a report ( OD Apr.5'13 ).