Company Profitability and Market Share

www.cosl.com.cn COSL International Oil Prices Hike New Heights Trend of global demand on crude oil, E&P and oil prices 125 Projected Demand Growth at 1.6% per year 300 World Capacity Excess Capacity 250 100 75 50 World Demand 25 E&P Expenditure 200 150 100 Oil Price $/B 50 0 0 1970 1975 1980 1985 1990 1995 2000 2005 2010 Data source: BP\IEA\EIA International oil prices are expected to climb 1.6% per year with the surging E&P expenditure, fuelled by the growing demand of the global market. 14 E&P Expenditures $ Billion

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