China’s crude oil output edges down 1.6% in May

2018-06-19
Xinhua

BEIJING — China’s output of crude oil edged down 1.6 percent year-on-year in May to 15.97 million tons, narrowed from a 2.3-percent decline in April, data from the National Bureau of Statistics (NBS) showed.

China produced 515,000 tons of crude oil per day in the month, compared to 517,000 tons for April. The daily crude oil output had stayed at around 515,000 tons for five months in a row, said the NBS.

In May, the country’s crude oil imports gained 5 percent year-on-year to 39.05 million tons, the NBS data showed.

In the first five months this year, the country’s crude oil output declined 2 percent to 78.23 million tons, while the first four months saw crude oil imports decrease 2.1 percent, according to the NBS.

From January to May, China’s crude oil imports increased 8 percent year-on-year to 190 million tons, the NBS data showed.

International crude oil prices were on an upward trend in May. At the end of the month, crude oil prices stood at $76.45 per barrel, compared to $75.92 a month ago.