China's crude oil output resumes growth


China's crude oil output edged up 0.2% year on year in August, the first monthly increase since November 2015, data from the National Bureau of Statistics (NBS) showed.

Crude oil output came in at 16 million tonnes last month, and 50.3 million tonnes of crude were refined, up 5.6% year on year.

China is one of the world's largest oil buyers, with over 60% of its oil consumption coming from imports. The country imported 38.4 million tonnes of crude oil in August, up 12.9% from the same period last year.

Meanwhile, natural gas output reached 12.9 billion cubic meters, gaining 9.7% year on year.

China aims to increase domestic crude oil output to 200 million tonnes by 2020, while supply capacity for natural gas should exceed 360 billion cubic meters.

Raw coal output also increased in August, up 4.2% year on year to reach 300 million tonnes, compared with a 2% drop in July, NBS data showed.

Source from : sxcoal