China Stockpiled Oil Before Trump's Interference
Amidst Donald Trump's frequent use of military means to disrupt the global energy landscape and escalate geopolitical tensions, China's previously low-key oil reserve actions have now become a "soothing pill" for dealing with geopolitical storms and ensuring energy security.
The New York Times reported on the 10th that before the outbreak of hostilities in the Middle East caused energy supply lines to collapse, China took proactive steps to increase its oil purchases. "This is part of China's ongoing strategy to cope with geopolitical tensions and ensure national energy security."
Data released by the General Administration of Customs showed that as the world's largest oil importer, China imported 48.045 million tons of crude oil in February, and a total of 96.934 million tons of crude oil in January-February, an increase of 15.8% year-on-year; refined oil imports were 4.775 million tons, and a total of 9.032 million tons of refined oil imports in January-February, an increase of 43.3% year-on-year.
Over the past year, China has steadily expanded its strategic oil reserves. Now, these reserves will come into play.
Cosimo Ries, an energy analyst at policy research firm Trivium China, said, "China's oil reserve actions have been ongoing for some time, and regulators had already prepared for the potential geopolitical tensions that the Trump administration might trigger. Looking back, this was a rather wise strategic move."
Original article: toutiao.com/article/1859345882361991/
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