AI Data Insight
China's oil and natural gas extraction industry reported a year-over-year (YoY) growth rate of -3.3% in export delivery value for the third quarter of 2026 (July), further improving from the previous -5.2% and establishing a bottoming trend with declines narrowing for four consecutive months. Against the backdrop of domestic oil demand declining due to the popularization of electric vehicles, the oil and gas sector has demonstrated resilient export recovery momentum, benefiting from higher oil prices driven by global geopolitics and the official energy production expansion strategy.