China's Oil Reserves Grow Despite Lukewarm Demand

China’s total oil product demand jumped by 416,000 barrels per day (bpd) in August from July, the latest data by the Joint Organizations Data Initiative (JODI) showed on Wednesday. The data compiled from reports submitted by the individual countries also showed that the increase in China’s crude oil imports was higher than the rise in reported total product demand, suggesting that the world’s top crude oil importer continued to send some of the imported crude volumes into strategic or commercial storage. China’s…