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. Receive daily email alerts, subscriber notes & personalize your experience. Register Now As a result, the high inventory has dampened China’s crude oil demand for delivery in the third quarter as it might take a while to destock, industry officials and market sources said July 29. Data intelligence firm Kpler said China’s crude inventory hit a fresh high of 889.35 million barrels in the week beginning July 20, comparing to 874.84 million barrels in a month ago […]