Related Articles
In depth
Forward article link
Share PDF with colleagues

Asia past its peak

China’s output will fall this year, the biggest loser as Asia’s oil production drifts lower

THE INTENSE focus on the price war between Saudi Arabia and higher-cost producers has obscured an important trend elsewhere in the market. It appears that China’s oil production probably peaked at one point in 2015, and will enter structural decline some time over the course of the months ahead. This is significant as the country is not just a major crude importer, it is also the world’s fifth-largest oil producer, trailing behind only the US, Russia, Saudi Arabia and Canada. To give that some context, the country pumps quite substantially more oil than Iran and Iraq. The country’s domestic oil production was up 2.2% to 4.3m barrels a day – or just under 5% of global supply – last year co

Also in this section
Latest licensing rounds
24 May 2017
The industry's most comprehensive list of current and recent rounds for onshore and offshore licenses
Kuwait's new dynamism
24 May 2017
The country wants to shake off its reputation for delays and energy sector in-fighting
While Opec was cutting...
22 May 2017
The Permian will lead a strong US onshore recovery in 2017, while former stalwarts the Eagle Ford and Bakken struggle to regain their footing