The inclusion of newly available data sourced by the Kpler partnership team, has led to a reassessment of China's supply balance. On this basis we have refined our methodology for Chinese crude and NGL supply.
Going forward, our estimates will align more closely with official NBS statistics, replacing the previous approach that deducted NGL supply from the country's total liquids production. As a result of this enhancement, China’s historical crude supply estimates increase by approximately 130 kbd on average across the dataset. In line with this changes, refinery runs were also adjusted in some months by between 100–200 kbd, broadly consistent with the corresponding supply adjustments, to maintain a balanced country-level state.
When viewing a global view of the data, the affected data fields are: supply, non-OPEC+, demand, refinery runs non OECD, net balance, and balancing factor. When viewing from a China, Eastern China, or Asia zone, the affected fields are: supply, demand, refinery runs, net balance, and balancing factor.
The restated numbers will be available in the terminal, Excel, and the API as of Tuesday, June 2, 2026 with the release of the newest update to the global crude S&D numbers.
Users can view the changes made to the data easily with the "changes vs previous update" toggle.
