| Even after China's slowing economy dragged crude to a six-year low, oil's second-biggest consumer remains the main safeguard against a further price meltdown. While China's surprise currency devaluation helped trigger Brent crude's slump to about $42 a barrel last month, the nation's stockpiling of oil can staunch further losses.
In the first seven months of the year, China purchased about half a million barrels of crude in excess of its daily needs, the most for the period since 2012, according to data compiled by Bloomberg..............................................Full Article: Source
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