Crude output target set

Beijing plans third-quarter onshore crude oil production of 36.4 million tonnes and fourth-quarter output of 36.2 million tonnes, the Shanghai Securities News said. It said the output plan was set by the State Bureau of Petroleum and Chemical Industries. Officials at the bureau declined to comment on the report. The mainland completed onshore production of 70.5 million tonnes during the first half of the year, the newspaper said. It said Beijing would move to reduce domestic crude oil inventories to eight million tonnes by the end of the year from 10.25 million tonnes at the end of June.