As the Biden administration drains America's Strategic Oil Reserves... Our enemies are building up their reserves.
______________
Cheap Russian oil helped China accelerate the pace of stockpiling crude in June to the largest monthly additions to inventories in three years, according to estimates by Reuters columnist Clyde Russell based on official Chinese data.
In June, China is estimated to have added 2.1 million barrels per day (bpd) of crude oil to either its commercial or strategic reserves, up from 1.77 million bpd added to inventories in May, per Russell’s calculations.
China does not report commercial or strategic inventories, so analysts are trying to estimate the volume of stockpiling by deducting the amount of processed crude from all available crude coming from imports and domestic crude production.
______________
Cheap Russian oil helped China accelerate the pace of stockpiling crude in June to the largest monthly additions to inventories in three years, according to estimates by Reuters columnist Clyde Russell based on official Chinese data.
In June, China is estimated to have added 2.1 million barrels per day (bpd) of crude oil to either its commercial or strategic reserves, up from 1.77 million bpd added to inventories in May, per Russell’s calculations.
China does not report commercial or strategic inventories, so analysts are trying to estimate the volume of stockpiling by deducting the amount of processed crude from all available crude coming from imports and domestic crude production.
China Accelerates Crude Stockpiling To Highest Rate In Three Years | OilPrice.com
China is accelerating the rate at which it is stockpiling crude, with estimates that the country added 2.1 million bpd to its strategic reserves in June.
oilprice.com