China’s oil inventories rise 416.7% in October - S&P Global Platts

Oilprice.com reports, citing S&P Global Platts, the Chinese crude oil stockpiles rose by 29.09 million barrels in October from a month earlier, in response to the rising imports and lower refinery activity. This led to a 416.7% jump inter-month.

On an annual basis, crude oil supply in October rose 21.3% to 415.96 million barrels, noting that the monthly increase in total supply was a lot more modest than the jump in inventories, at 8.9 percent, mostly as a result of higher imports.