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

BT_20150512_CPOIL12_1663491.jpg
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.

Singapore

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

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom