July crude stocks in China reach record high, dampens Q3 refinery feedstock demand

MOSCOW (MRC) -- China's crude stockpiles reached a record high level in July as refiners struggle to digest mass crude oil cargoes purchased during the second quarter, while domestic fuel consumption slowed amid widespread flooding across 23 provinces during the month, reported S&P Global.As a result, the high inventory has dampened China's crude oil demand for delivery in the third quar

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