*Whilst US shale has grabbed all the headlines, output of both oil and gas in the world’s number two consumer country, China, is also running at record levels.
*Latest official data indicate another month of bumper gas output at 20.3bcm for May, meaning that the last six months have included four of the six highest figures on record. Total output of 103.3bcm for the first five months of 2024 is up 5.6% year-on-year (see chart 1), putting 2024 on pace to smash the annual output record of 230bcm set last year (MEES, 2 February). (CONTINUED - 566 WORDS)
