This article says the Chinese are storing away about 1 to 1.2 million barrels/day, and that they still have room for another 830 million barrels in their storage tanks. So, probably a good chance they continue buying at least through the end of 2026 unless prices spike up. https://www.wsj.com/business/energy-oil/china-is-filling-up-its-oil-reserves-fast-444b8edb
For now. They're building more storage, and perhaps they will build even more. They're the world's largest oil importer, it makes sense for them to have a lot of oil in storage at low prices.
Outstanding insights on the oil market
Thanks Stu!
I wonder if oil price will experience much downward pressure once China decides they have enough oil in their strategic reserves.
China's appetite for more oil seems voracious. Hard to tell if or when that will change, especially at these low prices.
This article says the Chinese are storing away about 1 to 1.2 million barrels/day, and that they still have room for another 830 million barrels in their storage tanks. So, probably a good chance they continue buying at least through the end of 2026 unless prices spike up. https://www.wsj.com/business/energy-oil/china-is-filling-up-its-oil-reserves-fast-444b8edb
For now. They're building more storage, and perhaps they will build even more. They're the world's largest oil importer, it makes sense for them to have a lot of oil in storage at low prices.