The National Bureau of Statistics of China reports that the country has curbed oil production and refinery because the country’s economic growth slowed down. Economists note that this measure caps crude prices. China plans to refrain from expensive liquified natural gas and increase production of coal and gas. For the six months to June 2022, its crude processing volumes decreased to 332.22 million tonnes, down 6% from a year earlier. This came from a sharp decline in demand for petroleum products in the country amid a slowdown in the national economy. According to China's National Bureau of Statistics, the country's gas imports fell by 14.6% in June and by 10% from January to June, amounting to 8.72 and 53.57 million tonnes respectively. The country reduced oil imports and this pulled energy prices in the global market down. Meanwhile, China cut oil imports by 3.1% to 252.52 million tonnes in the first six months of 2022, experts noted. In April, oil refinery outputs dropped to 51.81 million tonnes marking the lowest figure in 35 months. After that, local refinery plants increased production by 4.1% in May and by 1.9% in June estimated at 53.92 and 54.94 million tonnes respectively. However, June throughput represented a 9.7% fall on a year-on-year basis. At the same time, China mined 2.19 billion tonnes of coal between January and June, up 11% year-on-year. Mining volumes are expected to peak by the end of 2022. Despite the current increase in coal exploitation and high rates of coal consumption, China intends to reduce carbon emissions. The Chinese authorities plan to achieve carbon neutrality by 2060. The country’s government supports state-owned oil companies. In June 2022, national oil producers boosted extraction by 3.6% to 17.19 million tonnes. It was a 6-year high. Chinese firms aim to increase crude production up to 4 million barrels per day by the end of 2022. From January to June, natural gas extraction volumes rose by 4.9% to 109.6 billion cubic meters. In the second quarter, gas outputs slumped considerably. Beijing is planning to increase gas production, developing the largest Fuling shale gas field, analysts stressed.