In order to maintain the economic development, importing a variety of natural resources, crude oil in particular, from foreign countries has been desperately needed by Beijing government. Rich in oil, Latin America has become the main target for China to seek the very material for energy and sustainability of its industrial development. In addition, the strong anti-Americanism in this region allows China to develop bilateral or multilateral relations with her capital in the name of "South-South Cooperation." With regard to the oil acquisition in Latin America, China takes not only high-level diplomacy, but also cooperates with its national oil companies to consolidate its rights to explore and produce oil there. However, the stance of the U.S. is a major concern in China when it comes to drafting an oil strategy. While aiming at securing her relations with Latin American countries, China has to promote her initiatives without negatively influencing Washington’s interests in the region. Consequently, China's long term interests may be stabilized by adopting such balanced strategy.