China's crude oil output rose for the first time since October 2015

Omkar Godbole FXStreet Contributor

China's oil output increased for the first time since October 2015 and the processing rate fell in August to its lowest since December, data released earlier today showed.

Key points (Source: Reuters)

Monthly crude oil output hit 16 million tonnes, or 3.77 million barrels per day (bpd), marking the first year-on-year increase in tonnes and bpd in years.

China refined 50.31 million tonnes of crude oil in August, or 11.85 million barrels per day (bpd), up 5.6 from a year ago.

The pace of processing fell from 11.95 million bpd in July and compared with a record high of 12.13 million bpd in March.

For the first eight months, crude runs were up 8.7 percent at 400.41 million tonnes or 12.03 million bpd.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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