AI Data Insight
In the first quarter of 2026, the cumulative crude oil production of China's industrial enterprises above designated size reached 54.8 million tonnes, steadily growing from the previous Jan-Feb figure of 35.73 million tonnes, representing a year-on-year increase of 1.3%. Against the backdrop of official pushes for energy security, crude oil extraction maintained a high level, but affected by geopolitical risks and weak demand, the crude oil throughput for the single month of March saw a year-on-year decline. Looking ahead, the situation in the Middle East and the transition to petrochemical feedstocks will be the key drivers of refinery dynamics.