China eyes higher crude oil, natural gas output this year despite global oversupply

 

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The world's biggest energy consumer has set a goal of producing more crude oil and natural gas this year as the country seeks to reduce its reliance on imports and safeguard energy security despite a coronavirus-driven collapse in oil prices.

China aims to produce 1 per cent more crude oil this year than the previous year and to boost natural gas output by 4.3 per cent, according to a guideline released by the National Energy Administration (NEA) on Monday.

The country set a target to produce 193 million tonnes of crude oil . . .

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