Due to lower oil price, despite fixed rate purchases from the government, the oil production in China declined from around 4.5 million barrels per day in 2015 to 3.8 million barrels in October 2016. However, in November, production jumped by the most since October 2013 and the world's second biggest buyer of crude now pumps 3.93 million barrels per day.

A steady increase would really undermine the production cuts agreed by both OPEC and N-OPEC countries.