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Wednesday, June 23, 2010

This country could see a huge boost from China's thirst for oil

China is a force to be reckoned with in the international oil market.

It is today the world's second-largest oil consumer, after the mighty U.S. And an increasing amount of China's oil use is being supplied by imports. In 2009, China's import crude volume exceeded domestic production for the first time ever.

This means the Chinese are looking abroad for more oil. China's national oil companies have been extremely active in buying.

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