China Seen Surpassing U.S. as Top Oil Importer This Year: Chart

China may surpass the U.S. to become the world’s largest crude importer this year, according to Fuliang Zhong, vice president at Chinese trader Unipec. The Asian nation bought a record 6.7 million barrels from overseas in 2015, while U.S. purchases have slowed amid a shale boom. Unipec, a unit of refiner Sinopec, expects China’s imports to average 7.5 million barrels a day in 2016.

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