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Small rise in Chinas crude oil production

CHINA'S crude oil production gained only 0.6 percent annually to 17.24 million metric tons in July as the current economic slowdown dampened fuel demand in the country, according to data released by the National Development and Reform Commission yesterday.

Chinese oil producers refined 34.16 million tons of crude oil, up 1.5 percent annually, but oil product output rose an annual 4 percent to 21.46 million tons, said the NDRC, the top economic planner.

China's consumption of refined oil grew 4.4 percent to 21.86 million tons.

The pickup in July failed to reverse a decline in China's domestic crude oil output during the first half of this year, underlying the country's increasing dependence on imports to meet its domestic demand, according to the data.

The country's crude oil output from January to July was 117.35 million tons, down 1.3 percent annually. Its crude oil imports grew 10.2 percent to 161.9 million tons in the first seven months, customs data showed.

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