China overtakes U.S. in oil imports

China is now the world’s largest net importer of oil, overtaking the U.S. in a shift that will heavily impact the geopolitical chess match over natural resources, reports FT.com.

“As China overtakes the US as the world’s leading net oil importer, Beijing is likely to face pressure to take a larger role in patrolling the world’s key shipping lanes. China has already taken a more assertive foreign oil policy in countries such as Sudan, Angola and Iraq, where state-owned Chinese companies have invested billions of dollars,” the report says.

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