BEIJING -- China's dependency on crude-oil imports hit a record high of 48.8% in July on a drop in domestic oil production and record volumes coming in from abroad.
Analysts say it is inevitable that the key 50% threshold will be broken as China's efforts to increase oil output won't be enough to offset increases in crude consumption.
Wednesday, August 15, 2007
China's Dependency On Oil Imports Hits Record High In July
China's Dependency on Oil Imports Hits Record High in July