You are here

China becomes world's top crude buyer despite stuttering economy

Low prices and Beijing's series of interest rate cuts in a bid to stoke growth are factors boosting oil demand

China's crude oil imports hit a record of 7.4 million bpd last month, putting it ahead of the US' estimated imports of 7.2 million bpd.


CHINA overtook the United States as the world's top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets.

The soaring imports