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OPEC Deal Could Send Oil To $70

OPEC Deal Could Send Oil To $70

Oil prices rose last week…

China Data Breakdown: Oil Consumption Rises 5.8% In H1 2019

Hengli

China’s crude throughput totaled around 316.97 million mt in the first half of 2019, up by 5.8% year on year, data from the National Bureau of Statistics showed.

In June alone, China processed about 53.70 million mt of crude, up by 7.7% year on year, and the growth rate climbed by 4.9 percentage points from the previous month. The daily processing volume amounted to 1.79 million mt in June, an increase of 116,000 mt from May.

Domestic crude production totaled around 16.10 million mt in June, up by 1.0% year on year, with a daily output of about 537,000 mt, an increase of 13,000 mt from May.

China produced 95.39 million mt of crude in the first half of 2019, an increase of 0.8% year on year.

The country’s crude imports totaled around 39.58 million mt in June, up by 15.2% year on year. China imported about 245 million mt of crude in January-June 2019, up by 8.8% year on year, and the growth rate was 0.6 percentage points higher than that in the first quarter.

The speed of natural gas production at industrial enterprises also picked up in June.

The country produced 13.9 billion cubic meters of natural gas in June, up by 13.1% year on year, and the growth rate was 0.2 percentage points higher from that in May.

China’s natural gas output totaled around 86.4 billion cubic meters in the first six months of 2019, up by 10.3% year on year, with the growth rate 0.9 percentage points higher than that in the first quarter.

Natural gas imports totaled 7.52 million mt in June, up by 3.0% year on year. China imported about 46.92 million mt of natural gas in the first half of 2019, up by 11.6% year on year.

By JLC International

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