China’s Homegrown Oil Drilling Push Chips Away at Import Dependence
Huge investments in domestic exploration will inevitably filter through to global markets.
A rig and vessel in the Bohai Sea, now the biggest oil field in China. Photo: China Photos/Getty Images
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Welcome to our guide to the commodities powering the global economy. Today, China-based correspondent Dan Murtaugh explains why Beijing’s pursuit of energy security is chipping away at a lucrative import market.
The revival of Chinese drilling is one of the oil industry’s most overlooked developments of the last decade.