If You're Looking for a Reason on Oil, Check Out China: Chart

With everything bad that’s happening in oil these days, here’s one chart to chew on today:

Total industry oil stocks reported by the International Energy Agency rose for a third month, increasing by 0.5 percent to the highest on record at 2.99 billion barrels. China’s Beige Book, released last week, showed further economic deterioration in one of the world’s largest commodity-consuming nations in the fourth quarter.

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