Oil reserves up 13.5%

Source:Xinhua Published: 2018/1/3 22:08:40

China had 37.73 million tons of national crude oil reserves as of the end of June 2017, up 13.5 percent from a year earlier, according to a statement by the National Bureau of Statistics.

The state oil reserves were in nine strategic storage bases at various sites, including Zhoushan, Zhenhai in East China's Zhejiang Province, Dalian in Northeast China's Liaoning Province and Tianjin, as well as some corporate facilities.

China's State strategic oil reserve base program was launched in 2004 to offset supply risks and reduce the impact of fluctuating global oil prices for refined products.

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