China accelerated the pace of stockpiling crude oil inventories in May amid lower refining throughput and weaker crude imports compared to last year, in further bearish signs about China’s apparent oil demand so far this year. China has likely added 1.08 million barrels per day (bpd) of crude to its commercial or strategic inventories last month, up from 830,000 bpd going to stockpiles in April, according to estimates by Reuters columnist Clyde Russell based on official Chinese data. China does not report commercial…
