As the world's largest crude oil importer, China will suffer a direct impact of oil prices higher. In 2017, China's crude oil imports exceeded 3 billion barrels, up to a value of USD 162.33 billion. Anbound industry researchers estimated, on a basis of growth by 10%, China would import crude oil more than 3.3 billion barrels of in 2018. From January to April 2018, China imported 1.1 billion barrels of crude oil, with the total value of USD 71.982 billion. If the price per barrel in next 8 months averages at USD 70, China will remain to spend USD 154 billion. The annual consumption on crude oil could reach USD 225.98 billion, USD 63.65 billion more than that of 2017.