China’s crude oil output has risen for the first time in three years although total production this year is still down on the same period last year. Crude output reached 16 million metric tonnes (mt) in August, 0.2% up from the same time last year, but the figure for the whole of 2018 so far was 1.8% down at 12.96 mt compared with the same time last year. The National Bureau of Statistics data also showed a drop in China’s crude processing rate as independent refiners continued maintenance shutdowns due to higher oil prices and new taxes.
China’s crude oil output has risen for the first time in three years although total production this year is still down on the same period last year. Crude output reached 16 million metric tonnes (mt) in August, 0.2% up from the same time last year, but the figure for the whole of 2018 so far was 1.8% down at 125.95 million mt compared with the same time last year. The National Bureau of Statistics data also showed a drop in China’s crude processing rate as independent refiners continued maintenance shutdowns due to higher oil prices and new taxes.