China Boosts Oil Stockpiles Despite Import Plunge

China appears to continue sending crude into strategic and commercial reserves despite the plunge in its imports and the world’s biggest-ever supply shock. China likely sent 430,000 barrels per day (bpd) of crude to reserves last month, according to estimates by Reuters columnist Clyde Russell based on official data about imports, refinery throughput, and domestic production. Unlike the United States, China does not report inventories. Analysts are looking at overall supply (domestic production plus imports) and refinery processing rates…