THE ECONOMY (page 2)

Fuel 2

You will hear information about oil and the economy. Listen and put in the missing words.

//The 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.

//China 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.

//Then 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.


Copyright © 2003 Time4English. All rights reserved.