China’s crude oil output slipped into negative growth in August, imports fell 9.4% on year
COMMODITIES DATA
China’s crude oil output slipped into negative growth in August, imports fell 9.4% on year
COMMODITIES DATA

China’s crude oil output slipped into negative growth in August, imports fell 9.4% on year

 

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China’s crude oil output fell 0.2% in August from a year earlier to 16.94 million tonnes, compared to 3% growth in July, leaving average daily output at 546,000 tonnes, according to data released by the National Bureau of Statistics.

China imported 40.35 million tonnes of crude oil in August, falling by 9.4% from a year earlier, compared to 9.5% drop in July, said the NBS.

In the first eight months of the year, China’s crude output reached 136.94 million tonnes, rising 3.2% from a year ago, and crude oil imports fell 4.7% on year to 330.18 million tonnes.

China processed 53.66 million tonnes of crude oil in August, falling by 6.5% from a year earlier, narrowing by 2.3% from the previous month, with daily average at 1.73 million tonnes, showed the data. In the first eight months of the year, China processed 434.89 million tonnes of crude oil, down 6.3% from a year ago.