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China Oil and Gas Production Rises in 2023

OIL

China crude production rose to 208mn metric tons or 4.16mn bpd in 2023 according to the state broadcaster CCTV on Tuesday.

  • It marks a 1.6% increase from 2022 production levels according to Reuters calculations.
  • China's domestic oil production averaged 2% annual growth between 2018 and 2022.
  • Chinese domestic natural gas production reached 230 billion cubic metres in 2023, CCTV said - a 5.6% increase over 2022 levels.

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