China Boosts Oil Inventories With Jump in Crude Imports

China’s crude oil imports soared in November, but most of the increase in purchases likely went to boosting stockpiles, data compiled by Reuters columnist Clyde Russell showed on Monday. Last month, crude oil imports to China rose for the first time in seven months as lower prices stimulated stronger demand. The average daily import rate in November stood at 11.81 million barrels, according to customs data from China. The total for the month came in at 48.52 million tons of crude, which was 14.3% higher than a year ago. Chinese refiners likely…