China’s oil production dipped 8.1% in July, compared to July 2015, to the lowest since October 2011 on a daily basis, as low crude prices led to some wells being shut in. Crude production last month was 122.6m bbl, said the National Bureau of Statistics. July’s production was around 3.94m b/d, down from June’s 4.03m b/d and the fifth straight month of declines in terms of daily output, Reuters reported.
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