China to Stockpile 169 Million Barrels of Oil by 2026

China will stockpile 169 million barrels of oil by 2026, as a reserve, adding 11 sites.
An oil tanker leaves its berth from Longkou port in Yantai, China, on December 22, 2024. China will stockpile 169 million barrels of oil by 2026, as a reserve, adding 11 sites. (Photo by Costfoto/NurPhoto) (Photo by CFOTO / NurPhoto / NurPhoto via AFP)

China is expanding its crude oil reserves with new storage sites scheduled for completion in 2025–2026. The effort will add at least 169 million barrels of capacity across 11 locations, according to public data.

China has built about 37 million barrels of its oil stockpile capacity. Calculations based on Chinese trade data indicate that, once operational, it could hold roughly two weeks of China’s net crude imports.

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by Edwin Shri Bimo

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