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China boosts crude oil storage amid soft refinery processing: Russell
The pace at which crude oil flowed into China's stockpiles increased in April as slower refinery processing outweighed a decline in imports. A total of 830,000 barrels per day (bpd) was added to China's commercial or strategic stockpiles in April, up from 790,000 bpd in March, according to calculations based on official data. Over the first four months of the year, China, the world's biggest crude importer, added 700,000 bpd to storages, a significant volume that goes some way to undermining the market view that oil consumption is robust amid a recovering economy. China doesn't disclose the volumes of crude flowing ... (full story)