Introduction

There is no denying that China has become a global player in the oil industry. Their consumption of oil is second only to the United States and their production of oil ranks them 6th overall on our list of countries. What many people don't know however is how little China actually imports or exports in comparison to other nations, even those with smaller populations than theirs! Despite having such large amounts of resources they do not seem to be taking advantage of them when it comes to exporting or importing goods like cars and electronics. So why do we think this might be?

China.

China is the world's second largest oil consumer, the largest automobile user, and one of the largest users of electricity. It is also one of the world's largest producers of steel, concrete and chemicals. China manufactures most of the world's goods—it produces over half of all toys and electronics, 70 percent of all shoes sold in America, as well as a third or more of everything from clothes to paper products sold here at home.

China is also a member along with Brazil, Russia and India in what has come to be known as BRIC nations—a grouping that stands for "big" (Brazil), "rising" (Russia), "industrialized" (India) and "converging" (China).

China is second on our list with their oil consumption at over 300,000,000 tonnes. This however was also to be expected, China has the largest population in the world, boasting over a billion. They are one of the largest users of automobiles and they manufacture most of the worlds goods. China is also a "BRIC" country along with Brazil, Russia and India. So we can expect there place in the global market to significantly increase and for goods from China to increase in price over the next few years. China are 6th in the world for oil production, but again like the United states they are not featured in the top 10 countries for their oil reserves.

China is second on our list with their oil consumption at over 300,000,000 tonnes. This however was also to be expected, China has the largest population in the world, boasting over a billion. They are one of the largest users of automobiles and they manufacture most of the worlds goods. China is also a

"BRIC" country along with Brazil, Russia and India. So we can expect there place in the global market to significantly increase and for goods from China to increase in price over the next few years. China are 6th in the world for oil production, but again like the United states they are not featured in the top 10 countries for their oil reserves.

Despite having large amounts of oil reserves, china does not import or export much oil

Despite having large amounts of oil reserves, China does not import or export much oil. In 2017, China exported 2.3 million barrels per day (bpd) and imported 1.7 million bpd from foreign countries—leading to a net export of 0.6 million bpd. This is likely due to the fact that China has been investing heavily in renewable energy and nuclear power plants over the past few years, leading it to have one of the most efficient electricity systems in the world today.

Conclusion

If you want to know the facts on China's oil consumption, it's all here! You might be surprised by what we found out about China.