Asia's 'strategic' strides in crude oil storage

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09 June 2015

Asia's 'strategic' strides in crude oil storage

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

    • Asia's existing crude storage capacity and stocks
    • New crude storage facilities in Asia
    • 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:

  • 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