China well on way to being largest oil importer

By Lan Lan | China Daily | Updated: 2013-03-07 07:40

A crude oil depot facility in Ningbo, Zhejiang province. China's net crude oil imports were 5.40 million barrels a day in 2012, and the country could soon overtake the United States as the largest oil importer in the world. Zhang Heping / For China Daily

China could overtake the United States as the world's largest oil importer earlier than expected, while US net oil imports continue to drop due to its booming domestic supply - a remarkable shift between the world's two largest energy consumers.