China's Oil Industry Operations in November

Since November, the country’s refined oil consumption has continued to maintain a high level. By coordinating relevant measures and taking comprehensive measures to increase the supply of resources, the shortage of diesel oil supply in some regions has gradually eased, and refined oil inventories have steadily risen.

Oil production increased steadily. According to statistics from the industry Express (the same below), crude oil production in November was 17.22 million tons, an increase of 10.8% over the same period last year. From January to November, crude oil production totaled 18.422 million tons, an increase of 6.7%.

Crude oil imports have slowed down. November's crude oil imports totaled 18.09 million tons, an increase of 1% year-on-year, and an increase of 47.7%, 18.1%, and 7.1% from the previous three quarters. From January to November, cumulative import of crude oil was 207.38 million tons, an increase of 18.3% year-on-year.

Refining maintains high load production. In November, the processing volume of crude oil was 33.38 million tons, an increase of 11% over the same period of last year. The output of refined oil products was 20.73 million tons, an increase of 10.3%, of which 13.13 million tons of diesel oil, an increase of 14.3%. From January to November, the accumulated crude oil processed was 35.07 million tons, and the refined oil production was 217.69 million tons, of which 133.83 million tons were diesel, which increased 13.3%, 10.7%, and 12.2% year-on-year respectively.

The consumption of refined oil is at a relatively high level. In November, the apparent consumption of refined oil products was 2.78 million tons, a year-on-year increase of 15.2%, of which gasoline was 5.38 million tons, an increase of 4.6%, diesel was 13.16 million tons, an increase of 21.4%, and the average daily consumption was the highest in history. From January to November, the apparent consumption of refined oil was 210.7 million tons, an increase of 11.1% year-on-year, of which gasoline increased by 6.7% and diesel increased by 13.1%.