The hottest crude oil production in China fell to

2022-07-28
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The accuracy of China's original deformation: the oil production is better than ± 1% and falls to a low level of more than 6 years. Overseas imports are expected to further rise.

China's crude oil production falls to a low level of more than 6 years. Overseas imports are expected to further rise.

September 14, 2016

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[China coating information]

according to the data released by the Chinese government on Tuesday (September 13), China's crude oil production fell sharply in August, This may prompt refiners to seek supply from overseas, boost China's crude oil imports to rise further in the coming months, and help alleviate the persistent global oversupply

according to the data of the China Bureau of statistics on Tuesday, China's crude oil production in August fell by nearly 10% compared with the same period last year, hitting the lowest level in more than six years, because the depressed oil price has had an adverse impact on major producers

analysts from Natixis and energy aspects Ltd predict that China's crude oil imports may continue the rebound of last month as Chinese oil processors come out of the peak maintenance season and domestic production declines further after falling to a six-year low

the data released by the General Administration of Customs last Thursday (September 8) showed that the country's crude oil import volume in August increased to about 7.77 million barrels/day, the highest in four months. In the first eight months of this year, the import volume increased by more than 13%

michal m, an analyst at energy aspects in London, is a challenge. Eidan pointed out that "the decline in China's crude oil production is quite alarming, so this supply gap will naturally be partially filled by imports."

according to the data calculated by foreign media on China's National Bureau of statistics, China's crude oil output in August fell by 9.9% year-on-year to about 3.89 million barrels/day, the lowest since December 2009. In the first eight months of this year, production fell by 5.7%

Abhishek Deshpande, chief energy analyst of France foreign trade bank, said, "China will undoubtedly have to import more crude oil to meet the demand growth of refineries in the later season of this year, which has the advantages of high efficiency, energy saving and high cost performance. However, due to the sufficient supply in the global market, this will not have an impact on the market."

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