China became the biggest oil importer driven by faster economic growth and strong auto sales, according to US government data released this week.
According to the New York Post, Chinese oil consumption outstripped production by 6.3 million barrels per day, which indicates the country had to import that much to fill the gap, the Energy Information Administration said.
The agency said that China's steady growth in oil demand has led it to become the world's largest net oil importer, exceeding the United States in September 2013.
The report said that China's economic boom has raised incomes and increased its global influence.
China's economy, the world's second-largest, is cooling but still is forecast to grow by nearly 8 percent this year, well above forecasts for the United States, the report added.
--ANI (Posted on 11-10-2013)