China now world's biggest oil importer
Media playback is unsupported on your device
Video

China overtakes US as world's biggest oil importer

The price of crude oil has been through one of the sharpest booms and busts in modern history.

Over the last decade shale oil has boosted US homegrown production and net US oil imports have fallen, and China is now the world's biggest oil importer.

Go to next video: Shipping: The lifeblood of global trade