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China oil producers face cuts after period of 'runaway' spending

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UNDER PRESSURE: The slide in prices to a 4-year low threatens to cut spending, production and profit for China's oil firms.

Sydney

THE slump in oil prices is a boon to China as the world's second-biggest oil consumer. It's a different story for the country as a major producer.

The slide in prices to a four-year low threatens to cut spending, production and profit for the country's oil companies

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