Amid a global energy crisis, China has quietly slashed oil imports without having to take extreme measures, says Javier Blas for Bloomberg Opinion. LONDON: Facing an unprecedented shortage, the oil market is pulling every available lever to rebalance supply and demand.  Some are well known: bypassing the Strait of Hormuz using pipelines, releasing emergency stocks and allowing high prices to kill consumption. But there’s another force that’s equally important and largely unmentioned: China.