China Set To Continue Crude Oil Buying Spree, IEA Says

Although Chinese oil stocks data is opaque and hard to come by, various sources peg China’s storage capacity at up to 1 billion barrels, and assuming the estimate is accurate that China has around 850 million barrels of crude oil stocks now, it would likely continue with its buying spree in the next six months until it reaches capacity, according to the International Energy Agency (IEA). According to various sources, China’s storage capacity is between 800 million and 1 billion barrels, the IEA said in its Oil Market Report on Thursday,…

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