China is set to add eleven new oil reserve sites in 2025 and 2026 as part of its efforts to accelerate stockpiling. The new sites will have a combined capacity of approximately 169 million barrels. This move follows China"s addition of 180-190 million barrels of storage capacity between 2020 and 2024.
The expansion of oil reserve sites is part of China"s broader strategy to enhance its energy security amid global market fluctuations. Recent developments in the energy sector have raised concerns about potential disruptions in seaborn trade, prompting the Chinese government to bolster its strategic reserves.
For further context on global economic trends, recent developments have shown a surge in gold prices, reflecting increased investor demand.
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