2.16 million tons! China's crude oil production hits a record high in 2025
On July 21, the National Energy Administration issued the "Report on the Development of China's Oil and Gas Exploration and Production (2026)". Data from the report shows that in 2025, China's oil and gas production achievements reached a new level. Crude oil output hit a record high, natural gas maintained a steady growth trend, and the self-sufficiency capability of oil and gas continued to strengthen. The industry has entered a new development stage characterized by "simultaneous growth in volume and efficiency, and green development."
2025 production indicators showed comprehensive strength, with unconventional oil and gas becoming the main driver of growth
In 2025, domestic crude oil production reached 216 million tons, setting a new historical high; natural gas production achieved growth of 10 billion cubic meters for the ninth consecutive year, and the oil and gas production equivalent climbed to 420 million tons, continuously consolidating the supply base.
The layout of exploration and development continued to be optimized, the stabilization and efficiency enhancement of old oil fields were steadily advanced, and the implementation of new resource replacement bases was accelerated. The pilot demonstration zones for shale oil were successfully completed, forming a production increase pattern of "3 demonstration zones plus 1 main production area." Annual shale oil production exceeded 8.5 million tons, reaching a scale more than 10 times that of 2018.
The production capacity of unconventional natural gas continued to be released, with output exceeding 110 billion cubic meters in 2025, a year-on-year increase of 7.7%, becoming an important support for the increase in domestic natural gas.
Oil and gas industry accelerates green transition, integration with new energy continues to advance
The oil and gas upstream industry simultaneously promoted energy conservation, efficiency improvement, and low-carbon transition. In 2025, oil and gas companies added over 9 million kilowatts of wind and photovoltaic installed capacity; the development and utilization scale of geothermal and waste heat resources reached 12.61 million gigajoules, achieving significant results in the clean substitution of production energy.
During the implementation of the "Seven-Year Action Plan" for oil and gas exploration and development from 2019 to 2025, domestic oil and gas reserves and production both hit record highs. Breakthroughs were made in multiple areas, including technological innovation in exploration and development, upstream mechanism reform, and green low-carbon transition. All established targets were successfully completed, and the level of national oil and gas security and self-sufficiency was significantly improved.
Implementing a new round of exploration and development actions in 2026 to consolidate the foundation of energy security
The report clarifies the direction of industry development in 2026. China will launch a new round of strategic actions for oil and gas exploration and development, continuously increase capital investment in upstream exploration and development, strive to stabilize annual crude oil production above 200 million tons, and promote the continued growth of natural gas production.
Industrial development will focus on cultivating growth momentum through technological innovation, deepening the implementation of artificial intelligence in oil and gas exploration and production scenarios, continuously promoting the integrated development of the oil and gas business with new energy, accelerating the large-scale promotion and application of CCUS technology, and taking multiple measures to consolidate the foundation of domestic oil and gas supply, thereby aiding the construction of an energy powerhouse.
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Commodity Price Chart
| Product name | Price (yuan/ton) | Price Limit |
|---|---|---|
| Carbon black | 12778.57 | +29.26% |
| MIBK | 13766.67 | +24.02% |
| Propylene oxide | 12033.33 | +17.97% |
| Hydrogen peroxide | 760.00 | +16.33% |
| IPA | 9550.00 | +14.60% |
| Diethylene glycol | 9200.00 | -14.18% |
| Crude oil | 105.83 | +13.76% |
| Acetic acid | 4153.33 | +12.15% |
| N-propanol | 8500.00 | +11.84% |
| N-butanol | 8900.00 | +11.72% |
| Chloroform | 2316.67 | +11.20% |
| Crude oil | 108.75 | +11.06% |
| Maleic anhydride | 9600.00 | +10.50% |
| Chlorobenzene | 6630.00 | +10.50% |
| Acetic anhydride | 6687.50 | +10.40% |
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Ethyl Acetate 17:30
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Acetic acid 17:25


