China is set to continue its crude stockpiling throughout next year, but even the buying spree from the world’s top crude importer would not be sufficient to support oil prices into the $60s per barrel as a major glut looms over the market in the coming months. Lower oil prices this year and China’s push to bolster its energy security will drive it to add 500,000 barrels per day (bpd) of crude inventories over the next five quarters, Daan Struyven, head of oil market research at Goldman Sachs, told Bloomberg in an interview this…
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