May 19, 2014

Why China Is Stockpiling Oil

Ambrose Evans-Pritchard, Daily Telegraph

The Associated Press

China is stockpiling oil for its strategic petroleum reserve at a record pace, intervening on a scale large enough to send a powerful pulse through the world crude market. The move comes as tensions mount in the South China Sea, and the West prepares possible oil sanctions against Russia over the crisis in Eastern Ukraine. Analysts believe China is quietly building up buffers against a possible spike in oil prices or disruptions in supply.

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TAGGED: Vietnam, Oil, South China Sea, Russia, China

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