New third-party estimates put Chinese strategic oil reserves at 600 MMBO, 366 MMBO more than official reports
The actual amount of crude oil stored in China may be significantly higher than official reports indicate, according to geospatial analytics company Orbital Insights. Using satellite imaging, the company estimates oil storage in China, the world’s largest energy consumer, was at 600 MMBO in May, 156% more than the 234 MMBO reported by the Chinese government in its most recent release, reports Bloomberg.

Orbital Insights estimates th...


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