China’s Big 3 Struggle To Ramp Up Oil Production

China’s unprecedented economic development and the massive increase in energy imports have made it an important destination for some of the world’s largest energy exporters. The growing role of EVs in the industrialized West and the fracking revolution in the U.S. have further strengthened Asia’s importance as a major buyer of fossil fuels. China’s modest energy reserves make it dependent on foreign producers to meet its domestic demand. While the Asian country was able to meet its energy requirements by producing 4 million barrels…