China ranks as biggest global net oil importer
Print Edition
China passed the United States in September as the world’s biggest net oil importer, driven by faster economic growth and strong auto sales, according to US government data released this week.
Chinese oil consumption outstripped production by 6.3 million barrels per day, which indicates the country had to import that much to fill the gap, the Energy Information Administration said.
“China’s steady growth in oil demand has led it to become the world’s largest net oil importer, exceeding the United States in September 2013,” the agency said in a report. “EIA forecasts this trend to continue through 2014.”
China’s economic boom has raised incomes and increased its global influence. But it also has spurred demand for imported oil and gas, which the government sees as a strategic weakness.
The US, with a population about one-third the size of China’s, still consumes far more oil per person than China does.
In September, Americans used 18.6 million barrels per day of oil and other liquid fossil fuels, while China used 10.9 million, according to the EIA’s Short-Term Energy Outlook. US production was 12.5 million barrels per day, while that of China was 4.6 million.
China’s economy, the world’s second-largest, is cooling but still is forecast to grow by nearly 8 percent this year, well above forecasts for the US.
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