China's refined oil output in May hits record high

2009-06-22 16:40:00 | From:

BEIJING: China refined a record 31.19 million tonnes of crude oil in May, up 10.7 percent over the same month last year, according to the China Petroleum and Chemical Industry Association (CPCIA).

The CPCIA on Monday released figures that showed refined oil output, including gasoline, diesel and kerosene, totaled 19.34 million tonnes, an increase of 16.7 percent over the same period last year.

Market analysts attributed the increases to surging demand as the domestic economy rebounded from its slowdown.

Sales of refined oil topped 18.32 million tonnes in May, up 2.3 percent from April, with gasoline sales up 2.9 percent year on year, or 3.6 percent from April, to hit 5.61 million tonnes.

"China's crude output and sales are expected to continue rising, to meet the demand from heavy industry in particular," said Jiang Xinmin, an expert with the National Development and Reform Commission, the country's economic planner.

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