As with every financial narrative, the story of the impending oil crisis contains a grain of truth - and ample hogwash, says Javier Blas for Bloomberg Opinion.

One of the two problems with the narrative is that it exaggerates depletion of strategic reserves held by rich nations. The other factor is China

As with every financial narrative, the story of the impending oil crisis contains a grain of truth - and ample hogwash, says Javier Blas for Bloomberg Opinion.