China’s Oil Storage Levels Are Falling In Early 2021 ...Middle East

Crude oil inventories in China have accelerated their decline in recent weeks, Bloomberg reported on Wednesday, quoting data analytics company Kayrros. At this time last year, Chinese stocks stood at 856 million barrels, according to Kayrros, which compiles and analyzes satellite data.   At the start of this month, inventories stood at around 990 million barrels, down from a peak of 1 billion barrels last September, the data cited by Bloomberg showed. The decline in crude oil stocks in recent weeks is bullish for oil prices as it suggests…

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