Foreign media: China is accelerating the construction of oil reserve bases to increase crude oil reserves. In 2025 and 2026, 11 new reserve points will be added, which can increase storage capacity by 169 million barrels in total. Currently, 37 million barrels have been built.
Once these new reserve points are completed, they will be able to store two weeks' worth of net crude oil imports for China. China's move is aimed at responding to changes in global energy flows after the Russia-Ukraine conflict, and to alleviate reliance on imported petroleum.
China also plans to increase its reserve capacity to cover six months of imports, about 2 billion barrels. In addition, China is blurring the line between commercial reserves and strategic reserves, integrating both through legislation to enhance energy security.
Original article: www.toutiao.com/article/1845317287922688/
Statement: This article represents the views of the author himself.