Big oil's shrinking in China has more to go as spending lags

Three major Chinese oil producers are hesitant when it comes to spending, which looks set to make oil production remain at a sluggish level. Bloomberg calculations show that domestic crude output has slumped 6 percent in the past nine months.

BY AIBING GUP, BLOOMBERG

China's oil output slump shows no signs of abating as the country's state-run energy giants hold back spending to cope with the crash in prices.

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