China’s Oil Refiners Slash Output After Crude Imports Plunge

China’s Oil Refiners Slash Output After Crude Imports Plunge Chinese oil refiners sharply reduced output last month to the weakest level in nearly four years, after the country’s crude imports plunged to an eight-year low due to the near-halt to shipments from the Persian Gulf. Aluminum, another commodity heavily impacted by the war in Iran, saw production hit a record in May, according to the statistics bureau on Tuesday. Meanwhile, China’s worst coal disaster in years forced miners to trim output as the authorities tightened up on safety.