China’s Oil Stockpiling Accelerated in October

China stockpiled crude oil at elevated rates in October, at a daily rate of some 690,000 barrels, up from 570,000 barrels daily in September, Reuters’ Clyde Russell reported today, citing calculations derived from official Beijing data. Refinery throughput in October averaged 14.94 million barrels daily, the official data showed, while imports ran at a rate of 11.39 million barrels daily, Russell reported. The refinery throughput figure was a 6.4% increase on the year, suggesting healthy demand for oil, but it was also a decline on September’s…