China's crude oil hit 8-month high

China's crude oil imports rose 7.4 percent in January from a year earlier to an eight-month high of 25.15 million tons, or 5. 95 million barrels a day (bpd), according to data released by the Chinese government on Friday. Shipments also gained 6.3 percent from December's 23.67 million tons (5.67 million bpd), and marked the highest level since May 2012, when it imported 25. 48 million tons (6.03 million bpd), the General Administration of Customs said on its Website. China is the world's second-biggest energy user after the US. The country's dependence rate on crude imports reached 56.6 percent in 2012, the official Xinhua News Agency reported last month, adding that its oil demand will continue to trend upward this year, with dependence rate on oil imports reaching 59.4 percent.