Having drained one glut, OPEC and its allies have found a new, brimming oil hoard to worry about: China’s crude reserves. China’s state-and-commercial-owned oil stores will help the Organization of the Petroleum Exporting Countries and other major producers determine whether to continue their supply cuts or open the taps wider again, say some officials from the cartel. Those cuts sent the oil price surging as inventories fell, and Russia and Saudi Arabia now want to boost production. But some signatories to the 2016 pact to cut supplies say that China’s huge and opaque store of oil needs to be taken into account after being ignored for years, according to OPEC officials. Excess Chinese oil could feed into any resurgent glut and push prices down, they worry. The most recent data suggests that U.S. production may be on the rise again. Related “We used to focus on [industrialized-nations] stocks. But […]