The Output Of Major Energy Products Increased Year-on-year in November

Recently, the National Bureau of Statistics announced the energy production in November 2021. Among them, the price of raw coal has fallen; affected by supply and demand, the future trend of crude oil is unlikely to weaken; the growth rate of natural gas is accelerating, and it will continue to rise in the future.

In November, the production of major energy products in industries above designated size maintained growth year-on-year. Among them, raw coal increased by 4.6%, crude oil increased by 2.7%, and natural gas increased by 4.4%. Compared with the previous month, the growth rate of raw coal and natural gas production accelerated, and crude oil production was basically stable.

From the perspective of raw coal, compared with October, with the continuous advancement of the policy of increasing production and ensuring supply, the growth rate of industrial raw coal output accelerated in November, with 370 million tons of raw coal produced, an increase of 4.6% year-on-year, and the growth rate was 0.6 percentage points higher than the previous month. Coal imports doubled, and coal prices in Qinhuangdao peaked.

In November, crude oil production was basically stable. China imported a record 4.47 million tons of crude oil from the UAE, and the processing volume turned from a decline to an increase. International oil prices will mainly rise throughout 2021, and the rise will be divided into three small bands. After each rise, there will be a period of adjustment; the decline at the end of the year is relatively large.

Natural gas production has accelerated. In November, 17.7 billion cubic meters of natural gas was produced, an increase of 4.4% year-on-year, and the growth rate was 3.9 percentage points higher than the previous month.

Under the guidance of the national seven-year action plan for increasing reserves and production, my country's natural gas production will continue to increase in the future, reaching 230 billion cubic meters by 2025. China's natural gas import dependence is relatively high. Imports have risen sharply since this year, from 1 to 11. In January, 109.76 million tons of natural gas were imported, a year-on-year increase of 21.8%. Entering November, natural gas imports have slowed down. Import volume was 10.73 million tons, a year-on-year increase of 16.8%, and the growth rate slowed by 8.7% from the previous month.