China seen overtaking US as biggest oil importer in 2-3 years

According to Platts data, the difference between US and Chinese crude oil imports is now 3 million barrels per day. This figure has fallen by half, from 6 million b/d, over the past year.

"We are seeing major shifts, with large oil companies such as Saudi Aramco exiting the US crude oil markets," says Montepeque.

This prediction threatens to redraw global crude imports trends sooner than many are expecting.

The US is the world's largest net importer of crude oil, with Japan in second place.

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: