China will continue amassing crude oil in strategic and commercial reserves well into 2026, according to Frederic Lasserre, global head of research and analysis at commodity trading giant Gunvor. After a slow start to the year, China began boosting its crude oil imports in March-April and has kept elevated import levels since then. The key driver has been crude stockpiling, not a major rebound in demand, according to analysts. Higher Chinese purchases have helped support oil prices despite the OPEC+ production hikes and persistent concerns…
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