China Premier Li Qiang Calls for More Reserve Capacity
Premier Li Qiang urged China to expand reserve capacity during visits to strategic oil sites. He stated managing reserves is vital for economic stability.
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Premier Li Qiang ordered China to expand its strategic oil and agricultural reserve capacity during a May 27 visit to storage facilities. This move is part of a national campaign to bolster crude stockpiles against global supply volatility. Increased storage capacity enables the world's largest oil importer to buffer against price spikes in West Texas Oil.
