CNOOC exec says domestic crude oil output may rise to 65-70mln metric tons annually by 2030 (vs current 61mln)

CNOOC's forecast for rising domestic crude oil output signals a potential shift in China's energy landscape, which could influence global supply dynamics. If output does climb as projected, it may exert downward pressure on oil prices, particularly affecting WTI and Brent. This forecast also aligns with broader energy trends, potentially impacting market sentiment as investors adjust their positions accordingly.