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China Now Produces More Oil Abroad Than At Home

China is among the most import-dependent large oil consumers, but imports, it seems, are not its only problem when it comes to oil. Apparently, production from assets the Chinese state oil companies own abroad now exceeds domestic production, increasing the country’s dependency on foreign oil. That in itself is not the problem, writes Michael Lelyveld in an analysis for Radio Free Asia. The problem is that much of the oil produced by these foreign assets does not end up in China for various reasons, including shipping costs and the difference…