China to become largest net oil importer

DUBAI, (PNA/PTI) — Energy-hungry China is expected to overtake the US to become the world’s largest net oil importer before the end of this year, according to a report.

The report, quoting figures from the US Energy Information Administration (EIA), said that “the US is still the largest importer of oil, but not for much longer. While its net oil imports are quickly falling, those of China, the world’s second largest oil consumer, are quickly rising.