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China soaks up the crude oil glut, but only if the price is right: Russell
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China soaks up the crude oil glut, but only if the price is right: Russell
(BOE Report) – Where exactly is the expected supply glut in the global crude market? The best answer is China, which saw storage flows surge in December, resulting in a surplus of more than 1 million barrels per day for 2025. China’s surplus of crude oil jumped to 2.67 million bpd in December, up from 1.88 million bpd in November and the most since the 2.27 million bpd seen in June 2020, when the world’s largest crude buyer was gorging on cheap o
·Denver, United States
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