Why Is China Stockpiling so Much Oil?

Why is China stockpiling so much oil?

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Rystad Energy: China’s oil stockpiling explained

Brent M1 futures have remained well above US$65/bbl for most of the last few months, even amid OPEC+’s faster unwinding production cuts since May.? Why? Because mainland China has put 156 million bbls of crude oil into storage since March this year, with the stock build coming in at a monthly average of 1.16 million bpd from March to June. Read Rystad Energy’s oil market update from?Lin Ye, Vice President, Oil Markets - Downstream:?