Article

China's advancements in oil and gas drilling technologies are set to significantly influence global markets, with projections indicating an increase in crude oil production from 3,790 thousand barrels per day in 2018 to 4,300 thousand bpd by 2025. Additionally, natural gas production is expected to rise from 137 billion cubic meters in 2016 to 261 bcm by 2025, positioning China as a market balancer rather than just a demand driver. The development of the Power of Siberia 2 pipeline may further reshape supply dynamics and enhance Sino-Russian relations.