China's surging oil production growth in recent years, the result of a concerted investment push, is expected to ease in 2024 as falling output from mature fields requires state oil companies to tap more challenging shale and ultra-deep reserves. While China is the world's biggest crude importer, it was also the world's sixth-largest crude oil producer last year, according to the EI Statistical Review of World Energy, with heavy investment helping to reverse a significant decline between 2015 and 2018.
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