China to Boost Oil Imports to Fill Reserves, Energy Aspects Says

China’s push to stockpile crude will help offset softer commercial demand and keep imports “robust,” according to Energy Aspects.

The nation could buy as many as 140 million barrels for its Strategic Petroleum Reserves for delivery in the fourth quarter and first quarter of next year, the industry consultant said in a note released late Monday, or almost 780,000 barrels a day over the period. It will continue purchases as long as prices remain below $80 a barrel.