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.
What's included
This report contains
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 4 images and tables including:
Images
- Chart 1: Asia's crude oil storage capacity in 2014, million barrels
- Chart 2: China's SPR Phase II capacity addition (2015-2017)
- Chart 3: Crude inventory build up in Asia, million barrels
- Asia's 'strategic' strides in crude oil storage: Image 4
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