The crude oil output was 1. 84 billion tons in 2006, increasing 17% y-o-y, which was 22% lower than y-o-y increase in 2005. In addition, crude oil possessed was 3.07 billion tons, rising 63% y-o-y.

The apparent consumption of refined oil was 1. 80 billion in China in 2006, increasing 72% y-o-y; hereinto the apparent consumption of gasoline, kerosene and diesel oil was 524. 75 million tons, 11. 51 million tons and 1. 16 billion tons, ascending 87%, 97% and 63% y-o-y respectively.

The export volume of refined oil was 79. 93 million tons in China in 2006, down 184% y-o-y, while the import volume of refined oil was 63.94 million tons in China, up 699% y-o-y; Such decrease in export and increase in import a shows that the foreign trade dependence of the refined oil industry in China rose dramatically, it was -089% in 2006, up 266% y-o-y.

The international crude oil price reached the climax in 2006, USD 78/barrel in August, and then it began to drop in Sep, which also lowered down the cost of domestic refineries. Then on Jan 14, 2007, National Development and Reform Commission announced to reduce the price of refined oil in China.