China’s crude oil surplus shrank from 930,000 barrels daily In September to 500,000 bpd in October, Reuters’ Clyde Russell reported today, based on data calculations. However, the significant decline was nothing to write home about, Russell said, noting that crude oil imports and refinery run rates during last month also fell. Last month, China imported a total of 10.53 million barrels per day of crude oil, per data from the General Administration of Customs cited by Reuters earlier this month. That’s 9% lower compared to October…
