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Posted June 1, 2023 Today in Energy

China’s natural gas consumption and LNG imports declined in 2022, amid zero-COVID policies ›

In 2022, annual natural gas consumption in China declined by 1%, or 0.4 billion cubic feet per day (Bcf/d), from 2021, according to data from S&P Global Commodity Insights—the first decline in annual consumption since 1990, according to our International Energy Statistics. Slower economic growth, mainly resulting from widespread lockdowns associated with China’s zero-COVID policies, prompted the drop in natural gas consumption. Government policies also reprioritized energy supply security, including growth in coal production, over emissions targets. More

China's annual natural gas consumption by sector

Data source: S&P Global Commodity Insights, China National Bureau of Statistics, China Energy Statistical Yearbooks

Data Highlights

WTI crude oil futures price

6/1/2023: $70.10/barrel

down$1.73 from week earlier
down$45.16 from year earlier

Natural gas futures price

6/1/2023: $2.158/MMBtu

down$0.149 from week earlier
down$6.538 from year earlier

Weekly coal production

5/27/2023: 11.164 million tons

up0.024 million tons from week earlier
down0.350 million tons from year earlier

Natural gas inventories

5/26/2023: 2,446 Bcf

up110 Bcf from week earlier
up557 Bcf from year earlier

Crude oil inventories

5/26/2023: 459.7 million barrels

up4.5 million barrels from week earlier
up44.9 million barrels from year earlier


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