China's crude oil output fell almost 10% in August

Almaty. September 19. Silkroadnews –  In August 2016 the volume of crude oil output in China fell 9.9% compared with the same month of last year, which has become the sharpest monthly drop since 2003, «Xinhua» agency reports.

According to the National Bureau of Statistics of China, the downward trend in crude oil production started at the beginning of this year continued in August. Price crisis at the international crude oil market became the key reason behind the crude output by the domestic oil companies.

At the same time, NBS of the country also says, since the beginning of this year the country has retained a double-digit growth in the volume of crude oil imports. In January-August the volume of crude oil imports increased 13.5% compared to the same period of last year. Such a state is explained by low prices for crude oil on the international market and the acquisition of import quotas by the private refineries.

The data also show that in August coal production in the country amounted to 280 million tonnes, having dropped 11% versus the same month of 2015. In late August the country's coal stock reserves amounted to 460 million tonnes with a decrease of 12.2%.