“While the price is favorable: China to increase oil imports to 140 million barrels for its strategic reservesChina plans to purchase 140 million barrels of oil for its strategic reserves by the first quarter of 2026, as long as prices
remain below $80 per barrel. This will ensure a high level of imports and soft commercial demand.
”, — write: unn.ua
DetailsAiming to maintain imports at a “high level” and ensure soft commercial demand, China is likely to purchase 140 million barrels of oil for its Strategic Petroleum Reserves, with delivery in the fourth quarter of 2025 and the first quarter of 2026. This is stated in a note from industry consultant Energy Aspects. It is added that China will continue purchases as long as prices remain below $80 per barrel.
According to Bloomberg’s calculations based on customs data, thanks to near-record purchases from Iran, China imported 12.2 million barrels per day last month. This is the highest figure in almost two years.
RecallOil prices fell on Tuesday, Reuters writes, after a prolonged 50-day deadline set by US President Donald Trump for Russia to end Russia’s war in Ukraine eased supply concerns. But Trump’s tariff plan continues to put pressure on the economy.