Chinese oil output slips

China

BEIJING, November 14, 2016 – Data released by China’s statistics bureau on Monday revealed an 11.3% year-on-year drop in domestic crude production for October, with daily output at its lowest level in seven years.

Last month, China produced 117.6 million barrels. While this figure marks a slight increase over September’s 117.1 million barrels, the daily average came out lower at 3.79 million barrels, levels not seen since May 2009. Gas production in October was recorded at 10.8 bcm (381 bcf), down 1.4% from last year.

Measured over the first 10 months of 2016, China’s oil production totalled 1.22 billion barrels, equivalent to 4.1 million bopd. According to the National Bureau of Statistics, the figure for 2015 stood at 4.3 million bopd.