HONG KONG, Dec 20 (Reuters) - Hong Kong stocks are expected to drift lower on Friday after the United States declared Iraq to be in "material breach" of a U.N. disarmament resolution, increasing the risk of future military action. But China's largest offshore oil producer, CNOOC Ltd , could still draw buying after oil prices climbed to a near-two year high as the White House reacted to what it called a deceptive weapons declaration from Iraq, holder of the second largest oil reserves in ...
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