China's crude oil output fell 6.8 percent year-on-year in the first quarter of 2017 as refineries slashed production and lifted imports in response to high exploitation costs, according to National Bureau of Statistics data released on Monday.
Crude oil output was 48.02 million tons during the period. In March alone, crude oil output fell 4.6 percent to 16.58 million tons.
During the first quarter, China refined 138.22 million tons of crude, up 4.5 percent year-on-year. Also, natural gas output totaled 38.74 billion cubic meters, up 3.4 percent year-on-year.
