China Overtakes U.S. as Top Crude Importer

China has overtaken the United States as the world's largest importer of crude oil (FT). Beijing is trying to curb demand; most analysts expect that its oil consumption, currently at 2.9 barrels per person per year, won't reach the United States' level of 21.5 barrels.

This CFR Backgrounder explains how hydraulic fracturing has enhanced U.S. energy security.

VIETNAM: U.S. secretary of state John Kerry and his Vietnamese counterpart signed a deal on civilian nuclear power at the East Asian Summit in Brunei on Thursday that will allow American firms access to Vietnamese markets while committing Hanoi to not enriching uranium (AP).