Unipec predicts China becoming a world leader in the oil imports

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Unipec пророчит Китаю мировое лидерство в импорте нефти

China in 2016 could bypass the U.S. and become the world’s largest importer of oil, predicts the Vice-President of the trading company Unipec Fulian Jun.

Last year the volume of oil imports by China rose to 6.7 million barrels per day, while the U.S. has reduced imports in the conditions of the shale boom. In February 2016, China has increased its oil imports to a record and 8.04 million barrels a day, reports “Interfax”.

According to the forecast Unipec, the average rate of imports of oil by China by the end of 2016 in General will reach 7.5 million barrels a day.

By 2020 imports could rise to 9 million barrels amid demand from independent refineries China, as well as efforts to replenish reserves, suggests Unipec.

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