China's domestic oilfields produced 14.34 million tonnes of crude oil and 5.8 billion cubic meters of natural gas in February, the Ministry of Commerce said.

Crude production averaged 3.75 million barrels a day, an increase of 2.3% year-on-year, while natural gas production for the same period rose by 7.9%. The country's refineries processed 24.94 million tonnes of crude oil in total last month, an increase of 6.4%.

China's gasoline production rose 4.9% in February to 4.66 million tonnes, while diesel output grew 4.2% from a year earlier to 9.16 million tonnes. At the same time, the production of fuel oil fell 8% year on year to 1.68 million tonnes and lubricant oil production dropped 13.2% to 404,800 tonnes.

China's crude oil imports rose to 25.79 million tonnes in the first two months, up 5.7% from the corresponding period of the previous year. In January and February, China also imported 5.05 million tonnes of oil products, a drop of 1.4% from the same period a year earlier.

Declining domestic fuel oil inventories and stable spot fuel oil prices have supported fuel oil futures in Shanghai. But international crude prices were under pressure, as volatility on global financial markets has fuelled fears over weakening economic growth rates and energy demand.  

Source:佚名