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Trade tensions could boost pace of China's strategic crude storage

Reuters  |  LONDON 

By Libby GeorgeLONDON (Reuters) - China will likely increase the pace of its strategic oil purchases by nearly 30 percent this year compared with 2017, the International Energy Agency said on Friday, and its eagerness to build stocks could get a boost from trade tensions with the United States. The world's top oil importer has spent the past 15 years creating what the IEA called "the world's most ambitious strategic crude reserves programme" since the 1970s.But its purchasing pace slid by half last year, the IEA said, slowed by technical problems and "reduced urgency in an era of plentiful ...

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First Published: Fri, April 13 2018. 15:25 IST