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China stockpiles oil, may dominate energy landscape
The gist
China's strategic oil stockpile reached nearly 1.4 billion barrels by December 2025.
That cushion may reduce Beijing's fear of oil cutoffs and shift its global strategy.
How it unfolded
- 2019China launched a seven-year program to expand oil and gas exploration and production.
- Dec 2025A US Energy Information Administration assessment estimated China's strategic stockpile had reached nearly 1.4 billion barrels by December 2025.
- Apr 2026The EIA assessment was released in April 2026; separately, Japan's ethylene plant utilization collapsed to 67 percent, its lowest since 1996.