Long crude oil to be careful! China's strategic oil reserves may be full.

All along, as the world's largest crude oil importing countries, China's demand is one of the key factors supporting oil prices. But now, China's strategic oil reserves are about to be filled, which is worth to be wary of crude oil bulls.
Morgan, an analyst at JPMorgan Chase, said in a report in June 29th that China had doubled to buy oil this year as a result of the collapse in oil prices, and now China is likely to be close to filling its strategic oil reserves. JP Morgan believes that a stop for the strategic petroleum reserve of imported oil may be imported about 15% Chinese erase.
Since the beginning of 2015, China has been using low oil prices to accelerate the establishment of strategic oil reserves." JP Morgan analyst Ying Wang in the report said, "we think China to buy oil may have been close to limit the capacity of the strategic petroleum reserve, plus" teapot "refinery utilization rates may decline and Chinese demand lower than expected, may cause a rise in global oil prices in the short term risk."
Peng Bo (View Bloomberg) columnist Shilling Gary believes that, despite the recent rebound in crude oil prices to 50 U.S. dollars / barrel, but this price level can not be sustained, the future price of oil will fall to 10-20 U.S. dollars / barrel.
Shilling Gary said the recent rebound in oil prices and the fundamentals have no relationship. The rise in oil prices is mainly due to wildfires in Canada, as well as the political unrest that led to the reduction of production in Nigeria and venezuela. But now the world's crude oil is still a serious surplus.