China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
China has continued to expand domestic oil and gas output this year, with production that is on track to hit record highs underscoring the high priority placed by Beijing on sustaining and increasing domestic hydrocarbon production for energy security—despite booming renewable energy deployment and electric vehicle sales. Chinese oil production reached 18.47mt in May, equivalent to 4.40m b/d and a year-on-year gain of 1.8% that marks the second-highest monthly growth rate this year, according to figures released in mid-June by the National Bureau of Statistics. Crude output for the first five months increased by 1.3% year-on-year, to 90.29mt, or 4.42m b/d. Gas extraction in May climbed by a
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
