China's oil refineries cut output, even as crude production holds steady

China's industrial data for April shows its oil refineries processed less crude oil. This means they made fewer products like gasoline and diesel, even as the country's raw oil production stayed stable.

This drop in refining suggests that demand for fuel and other oil products inside China is weaker. It could signal a slowdown in industrial activity or consumer spending. The numbers also affect global oil markets, as China is a major buyer and refiner.