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382

China Broke Its Own Record

The amount has already exceeded last year's total

China imported as much as 99.59 million tons of crude oil during the January - October period 2004 amid continually rising international oil prices, according to China's General Administration of Customs.

The amount has already exceeded last year's total of 91.12 million tons. The reason of that is China's rapid economic development, which caused the rising consumption of oil.

According to the International Energy Agency, China's crude oil imports could reach 120 million tons in 2004, the second most in the world after the United States.
The administration also said China imported 19.85 million tons of processed oil in the first half of 2004 and is expected to import 40 million tons by the end of the year.