Insight
Asia's 'strategic' strides in crude oil storage
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Report summary
Asia imports 70% of its crude oil needs, making the region vulnerable to supply disruptions that impact economic activities. Hence, governments have gotten serious in building strategic reserves: China and India have made rapid strides, while South-East Asia is actively planning. Oil stockpiling in Asia provides a source of crude oil purchasing on top of import requirements to meet the region's growing oil demand. Intermittently, stock building purchases will provide support to oil prices.
Table of contents
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Crude oil storage back in focus
- Asia's existing crude storage capacity and stocks
- New crude storage facilities in Asia
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Impact on crude market dynamics
- Chart 4: Oil demand growth and crude oil stockpiling ('000 b/d)
Tables and charts
This report includes the following images and tables:
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Chart 1: Asia's crude oil storage capacity in 2014, million barrelsChart 2: China's SPR Phase II capacity addition (2015-2017)Chart 3: Crude inventory build up in Asia, million barrelsAsia's 'strategic' strides in crude oil storage: Image 4
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