In June 2024, roughly 17.95 million metric tons of crude oil were produced in China. This was an increase compared to the same two months the previous year.
Crude oil industry leaders and consumer groups
China's leading oil, gas, and petrochemical companies are state-owned enterprises Sinopec and Petrochina. In 2022, they reported whopping annual revenues of around 2.7 and 2.6 trillion yuan, respectively. Their business performance is in part driven by increasing demand for oil and oil products by the automotive industry. With over two million cars sold each month, automobile sales in China stimulate demand for petroleum-based motor fuels. This is also reflected in the production of refinery products, such as gasoline and diesel.
China's growing appetite for primary energy
As the wealth of its residents grows, so too does the country's demand for primary energy sources. In 2022, China was ranked the world's largest primary energy consumer. Crude oil consumption has been climbing continuously in the past few years, although coal remains the most dominant energy source in the country. Together, coal and oil make up the lion’s share in China’s primary energy consumption.
Monthly crude oil production in China from June 2021 to June 2024
(in million metric tons)
Characteristic
Crude oil extraction in million metric tons
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* The figures for January and February were published together to curb the effect of the Chinese New Year which each year falls between January 21 and February 21.
Values have been rounded.
The source does not provide a release date. The date given is the date of data access.
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National Bureau of Statistics of China. (July 19, 2024). Monthly crude oil production in China from June 2021 to June 2024 (in million metric tons) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/226175/crude-oil-extraction-in-china-by-month/
National Bureau of Statistics of China. "Monthly crude oil production in China from June 2021 to June 2024 (in million metric tons)." Chart. July 19, 2024. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/226175/crude-oil-extraction-in-china-by-month/
National Bureau of Statistics of China. (2024). Monthly crude oil production in China from June 2021 to June 2024 (in million metric tons). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/226175/crude-oil-extraction-in-china-by-month/
National Bureau of Statistics of China. "Monthly Crude Oil Production in China from June 2021 to June 2024 (in Million Metric Tons)." Statista, Statista Inc., 19 Jul 2024, https://www.statista.com/statistics/226175/crude-oil-extraction-in-china-by-month/
National Bureau of Statistics of China, Monthly crude oil production in China from June 2021 to June 2024 (in million metric tons) Statista, https://www.statista.com/statistics/226175/crude-oil-extraction-in-china-by-month/ (last visited July 22, 2024)
Monthly crude oil production in China from June 2021 to June 2024 (in million metric tons) [Graph], National Bureau of Statistics of China, July 19, 2024. [Online]. Available: https://www.statista.com/statistics/226175/crude-oil-extraction-in-china-by-month/