China Takes Top Honors as World's Biggest Oil Importer

The BBC is reporting that China has earned the dubious distinction of being the world’s leading importer of foreign oil.

China has knocked the US from its top spot as the world’s biggest net importer of oil, US government data shows. The country’s fast-growing economy, as well as the rise in car sales, has led to its new status, according to September’s data. Oil consumption in China had outstripped production by 6.3 million barrels a day, said the Energy Information Administration (EIA). In the US, the figure was 6.1 million.

Although the U.S. consumes almost 80 percent more oil per day than China – 18.6 million barrels vs. 10.9 million barrels – technological advances have enabled America’s domestic oil and gas production to dramatically improve thus increasing our self-sufficiency.

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