China will become the world’s largest net oil importer on a monthly basis by October and an annual basis by 2014, Bloomberg reported, citing a forecast by the U.S. Energy Information Administration (EIA). According to the EIA’s Short-Term Energy Outlook, Chinese oil imports will reach 6.45 million barrels a day, surpassing the U.S.’s 6.23 million. China will use 11 million barrels a day of oil in October, the outlook showed. The U.S. will use 18.6 million. Oil production, including crude and other liquids, will rise to 12.4 million barrels a day in the U.S. by October. China’s production will be 4.57 million.
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