Nobody Wants to Wear the Oil Crown That Makes OPEC Richer
- U.S. oil imports have rebounded as shale production falls
- China has increased crude imports four-fold since 2005
The Beginning of the End for OPEC?
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The world’s biggest oil importer. The title nobody wants.
For decades the U.S. held undisputed rights to the crown. Last year, China squeaked ahead for the first time amid growing demand and as rising U.S. shale production displaced overseas deliveries. The Middle Kingdom looked poised to become the center of the crude importing world.