With the United States drastically reducing the amount of oil it imports thanks to fracking, China has emerged as the world’s top oil importer. According to the Energy Information Administration, the Asian Dragon’s net imports of crude oil were nearly 6.30 million barrels per day back in September. That compares to U.S. net imports of 6.24 million.
The EIA predicts that the import spread will widen even further as China continues to grow at its torrid pace.
Given the hefty increases in demand, China is pulling out all the stops in order to get oil into the hands of its people. That means supplying firepower to increase production at the various energy companies within its borders. From shale oil acreage binges to strategic deepwater partnerships with foreign producers, China’s energy giants are quickly becoming major worldwide players in the sector.
And with the emerging market leader’s energy demand not expected to decrease anytime soon, investors could be big winners in China’s energy machine. Here are four of the best ways to cash in.