Based on the report from "People's Daily," the most authoritative newspaper in China, President of CNPC Ma Fucai announced on January 13 that Daqing Oil Field will make a strategic adjustment of its crude production to lower the crude output by 1.7 million tons to 48.3 million tons in 2003. This is the first time Daqing has set the annual crude production target lower than 50 million tons since it pumped more than 50 million tons of crude oil in 1976. Daqing Oil Field, the largest oil field in China, has kept its crude production stable at more than 50 million tons for 27 consecutive years.
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