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China refines record 31m tons of crude oil in May

(Xinhua)
Updated: 2009-06-22 14:26

Related readings:  China eyes 18% oil refining growth by 2011  Crude oil prices rally on robust indicators  China March refinery runs rise first time in 5 months  Total crude output at China's largest oilfield tops 2b tons

China refined a record 31.19 million tons 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 tons, 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 tons 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 tons.

"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.