Crude imports to increase 7.7%

Imports are expected to make up more than 70 percent of China's crude oil supply in 2018 amid sound economic growth, said a research arm of State-owned energy giant China National Petroleum Corp on Tuesday.

The country's net crude oil imports will rise 7.7 percent to 451 million metric tons in 2018, accounting for 70.1 percent of China's total supply, according to a report released by CNPC Economics & Technology Research Institute.

Oil imports in the world's largest energy consumer rose 10.8 percent to 396 million tons last year, meaning China overtook the United States to become the world's largest oil importer. The country relied on imports for 67.4 percent of its oil supply last year.