China Crude Output Stabilizes After Falling to Six-Year Low
- September oil output rose 0.3% from August to 3.9 million b/d
- Country’s production likely won’t rebound this year: ICIS
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China’s crude output stabilized after falling to the lowest level in six years as global prices rebounded amid OPEC’s renewed commitment to manage supply.
Production in the world’s largest energy consumer added 0.3 percent last month to about 3.9 million barrels a day, rebounding from the lowest since December 2009, according to Bloomberg calculations based on data from the National Bureau of Statistics released Wednesday. Output dropped 9.8 percent in September from a year ago to 15.98 million metric tons, the bureau said, while falling 6.1 percent during the first nine months of the year.