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Click Here for 150+ Global Oil Prices 1D 1M 3M 1Y All Charts Headlines 25 mins India’s Solar Manufacturing Push
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outlook,… Home Latest Energy News Irina Slav What I Cover Irina Slav has been writing about global energy markets
since 2007, covering the oil and gas industry, energy security, commodities, and the… More Info Share Facebook
Twitter Linkedin Reddit Set us as your preferred Google source Related News Iran War Escalation Threatens Global Fuel
Supply Recovery Pakistan Scrambles for Oil Alternatives as Hormuz, Red Sea Risks Mount Oil Jumps Nearly 4% as Houthis
Threaten Red Sea Blockade Japan’s Power Prices Soar to 3.5-Year High Equinor Profit Soars 93% as Oil and Gas Price
Spike Fuels Windfall China's Oil Output Hits Record High By Irina Slav - Jul 22, 2026, 3:30 AM CDT China produced a
record amount of crude oil last year, at 216 million tons, with natural gas production also rising substantially, the
National Energy Administration reported today.Together, the oil and gas output of China in terms of oil equivalent rose
to 420 million tons—a record high. Natural gas alone rose by 10 billion cubic meters last year. The annual growth
rate was unchanged for the ninth year in a row, the NEA said.Chinese oil and gas companies also boosted their reserves,
with new recoverable oil and gas volumes at 1.32 billion tons of oil equivalent, the report also revealed. This was a
5.6% increase on the year. Of that total, newly discovered conventional oil and gas accounted for 1.29 billion tons,
while unconventional oil and gas accounted for 30 million tons.China has been putting a lot of effort into reducing its
dependence on imported energy, and the war between the United States and Iran has helped—as has the
government’s strategy of filling up storage with discount Russian and Iranian crude over the last two years. This
gave China a supply cushion of an estimated 1 billion barrels that it tapped into when the war prompted a surge in
international oil prices.Higher domestic production has also helped but to a lesser extent—China is still nowhere
near any meaningful self-reliance in energy commodities as demand rises much faster than local production of oil and
gas.Even so, China saw its oil imports drop to the lowest since 2017 in May, at an average of 7.8 million barrels daily.
Imports were seen by Kpler even weaker in June, to the lowest since 2016, or about 6.4 million barrels daily. This has
helped soften the Middle East oil disruption blow to the global economy, but analysts have warned that this softening is
not about to last forever, as China’s demand for crude will eventually push it to raise imports.By Irina Slav for
Oilprice.com More Top Reads From Oilprice.comOil Prices Climb as U.S.-Iran Conflict Shows No Signs of SlowingSurging Oil
Prices Push Japan’s Import Bill to an Unprecedented HighUS Crude Oil Inventories Build As Hormuz Shipping Headache
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Profit Soars 93% as Oil and Gas Price Spike Fuels Windfall Irina Slav What I Cover Irina Slav has been writing about
global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… More
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