China's crude oil output grows in January

Official data shows China's crude oil output edged up 0.3 percent year-on-year in January.

Derricks pump crude oil at a CNPC (China National Petroleum Corporation) oil field in Karamay, Xinjiang Uygur Autonomous Region. [Photo: IC]

Crude oil output came in at 16 million tons, while 50 million tons of crude were refined, up 2 percent year on year.

China is one of the world's largest oil buyers, with over 60 percent of its oil consumption coming from imports.

The country imported more than 40 million tons of crude oil in January, up 5.1 percent from the same period last year.

The consumption of refined oil saw a 2 percent rise year on year, amounting to 27 million tons in January.

China aims to increase domestic crude oil output to 200 million tonnes by 2020.