will hear information about oil and the economy. Listen and put
in the missing words.
reality is that China's industrialisation has accelerated
at a rate few imagined. China now accounts
for 40 percent of the world's growth
demand for oil; crude oil. Its imports of crude oil in the first
eight months of this year grew by nearly 40 percent
the same period last year.
is now the world's second largest consumer
oil after the United States.
And in the United States the economic recovery there
oil demand at record levels.
we have oil supplies being rocked by
instability in the Middle
East. Iraq has the second largest oil reserves and
know what is happening
there. And the world's biggest producer with
biggest reserves is Saudi
Arabia. And we are following from a decade of underinvestment
in production and refining so that world
is close to full capacity.