Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Fifty years of oil trading
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
The many faces of China’s oil demand
While economic weakness and the electric vehicles trend have hit oil demand growth, petrochemicals and jet fuel show more nuanced changes across the barrel
China’s oil majors making gas shift
PetroChina, Sinopec and CNOOC are aiming to rebalance their energy mixes but face technically difficult deepwater and shale task
Taiwan’s energy dependencies laid bare
Renewed China tensions threaten island’s inflows of oil and gas from overseas
How private energy traders secure global energy supplies
The often-hidden yet powerful hand maintains supply chain linkages and global flows amid disruptions
Oil and gas industry beats demand drum
Bearish market sentiment and bullish long-term outlook for oil and gas consumption prevails at CERAWeek
China may not maintain record gas demand
Gas auctions underperform, signalling a slow start to 2025 after bumper 2024
US-China trade war will have limited impact
Tariffs likely to compound already weakening energy flows between economic powerhouses and lead to trade being rerouted
Hydrocarbon Processing Refining Databook 2025: Asia-Pacific
A burgeoning middle class is boosting demand for refining capacity in Asia, with China leading the way and India also with many projects underway
China is producing record amounts of crude
China Trading
Shi Weijun
Shanghai
4 August 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

China pumps record crude despite economic headwinds

Record domestic production and high imports contrast with weak economic growth to raise the question of how much more crude China can store

China’s apparent crude demand has continued to defy stalling momentum in the world’s number two economy, with robust consumption projected through the rest of this year. But the unusually high volumes raise questions about how much is genuine consumption and how long the mismatch can last. China is producing record amounts of crude and importing vast amounts of it, reflecting a strength of demand that is increasingly difficult to reconcile with underwhelming economic activity. Chinese majors produced 4.28m b/d domestically in June, up by 1.9% from a year ago and nearly 600,000b/d more than when domestic output fell to a low of 3.71m b/d in September 2018—a gain that exceeds what some OPEC+ n

Also in this section
9th OPEC International Seminar
20 May 2025
Petroleum Economist is proud to be an official media partner for the 9th OPEC International Seminar in Vienna
Energean ready to go deep into Africa
20 May 2025
Mediterranean-focused gas producer looks to replicate Israel success story and is hunting projects across the continent, with particular interest in West Africa
A new energy order in the UAE and Saudi Arabia
Opinion
19 May 2025
The two Gulf states are combining fossil fuel production with ambitions to become leaders in low-carbon energy
Andean upstream feels the heat
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search