China set a fresh monthly crude oil import record in April and continues to import growing volumes of crude oil this year, accounting for an estimated two-thirds of global oil demand growth in 2019. Yet, a rough estimate of actual Chinese oil consumption patterns lately suggest that the U.S.-China trade war has hit China’s industries and that nearly half of the rise in crude imports have gone into storage so far this year, according to Reuters columnist Clyde Russell , who offers an interesting perspective on whether China’s soaring crude oil imports adequately reflect what’s going on with the Chinese economy. Signs are pointing to a slowdown in China’s economic growth, while stockpiling—at high levels so far this year—could decelerate later in 2019 if oil prices rise to a level Beijing considers too high to build inventories at the current pace. China hit a new monthly record of 10.64 […]