Markets
China plans to boost oil reserves in five-year plan
- Heavy reliance on energy imports is a security vulnerability for China
1 min
By
BEIJING: China, the world’s biggest importer of crude oil, plans to swell its stockpile, build significant reserve projects and bolster storage for natural gas and coal, a five-year plan released on Thursday showed.
Oil near multi-month highs on Middle East conflict, pares gain on report of US-Iran talks
Heavy reliance on energy imports is a security vulnerability for China, which has been building strategic oil inventories to about 900 million barrels, or 78 days’ worth, according to estimates by Vortexa and traders.
Read Also