Low Prices Spark Biggest Surge In Chinese Crude Imports Ever

Chinese crude oil imports surged by almost 5 million barrels in December - the most on record. 

This 19.5% surge MoM (and 13.4% YoY) indicates significant efforts to fill the nation's strategic reserve but - absent this 'artificial' demand - spells problems for an already over-supplied global oil market .... http://www.zerohedge.com