China’s daily production in the first two months of this year declined 8 per cent year on year after falling at a record pace in 2016 as the country’s energy giants shut high-cost wells at older fields. Photo: Reuters

China turns top global crude importer in first quarter

Buying was boosted by stockpiling and purchases by the country’s independent oil refiners, which raised their processing of imported crude to a record last month

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China’s daily production in the first two months of this year declined 8 per cent year on year after falling at a record pace in 2016 as the country’s energy giants shut high-cost wells at older fields. Photo: Reuters
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