World · 11 September 2026
China oil firms spend $343bn, boost output to 4.3m bpd.
Yoshi Canopus via Wikimedia Commons (CC-BY-SA-4.0)
Chinese state oil companies have prioritised energy security for a decade, helping cushion disruptions to Middle East supplies. Officials launched a seven-year plan in 2018 to boost drilling after domestic oil production began falling. The plan led to about 2.3 trillion yuan ($343 billion) being spent at home, raising oil output to 4.3 million barrels per day.
Reported by Reuters · How we write briefs