Sinopec: China’s oil imports to reach 8 million barrels per day this year

Almaty. July 28. Silkroadnews – According to Sinopec data, this year China’s oil import is expected to reach 8 million barrels per day, information portal Your oil and gas news reported.
This year crude import to China will reach 400 million tonnes (8 million barrels per day), Sinopec Group official said last week. Vice President Zhang Haichao said low oil prices and domestic production decline will result in imports growth this year, report said.
If Zhang’s forecasts prove accurate the imports will grow by around 4.8% or 370,000 barrels per day. This, however, will mean a growth slowdown for the country with annual crude sales increase of 14%.
In case this year’s imports reach 8 million barrels per day the country will turn to be the world’s largest importer.