China’s tumbling crude production amid record-high demand from its oil refineries is helping tighten a global market recovering from a glut. Output in April from the world’s second-biggest consumer fell by the most since November 2011 to the lowest in 14 months. Meanwhile, the country’s refineries processed a record 10.93 million barrels a day of oil. The production declines “will help rebalance the market and will be positive for prices,” according to Neil Beveridge, a Hong Kong-based analyst at Sanford C. Bernstein & Co. “We expect faster-than-expected declines, which will increase imports and heighten long-term energy-security concerns,” Beveridge said in an e-mail Monday. “The cuts in capital investment are now having a significant impact on production as China reaches ‘peak oil’ production.’’ The nation continues to increase imports to meet record refining demand. China’s inbound crude shipments in April rose 3.2 percent from the previous month, and near the […]