China: Crude imports ‘to surge’

China’s crude oil imports are expected to surge this year and exports will fall year-on-year as a result of market demand and trade policy adjustments, a leading industry analyst said yesterday.

“Increased crude imports and decreased exports are results of accelerating local economic growth and higher dependence on import energy,” explained Gong Jinshuang, a senior analyst at the Economic and Technology Research Institute of China National Petroleum Corp (CNPC).
China Daily