Gravitas: China announces sale of strategic oil reserves


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Gravitas: China announces sale of strategic oil reserves



Strategic oil reserves are used to smoothen supply disruptions during emergencies. But China is using it to bring down oil prices. What explains Beijing’s new policy? How did the markets react? Palki Sharma tells you.

#Graviats #China #OilReserves

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29 Comments

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  1. They already selling there oil reserves.

    So that when the war comes they have money and less damages to their country when other country strike bomb the 1st to do is to destroy there oil reserves so no less machine will work

  2. This must be the only step by china I would like to favor. This is much-needed step. Oil industry controlling the production has huge impact on inflation

  3. Chinas economy has contracted. Dere 1b 1r banks are calling in loans or hiking interest.more sanctions on china needs 2 be applied. 2million+ deaths is the cost to us ! There is also ander factor – they are pushing big in zero emission vehicle markets.this volume of oil reserves is perhaps excess storage.

  4. What China does with its reserves is non of the world's business. If they can bring down the prices doesn't it benefit the world? Oil can not and must not be controlled by a single entity otherwise prices will sky rocket. IT IS STUPID THAT WION WILL MAKE AN ISSUE OUT OF THIS. DO NOT SENSATIONALIZE EVERY INFORMATION YOU GET.

  5. Sont forget , china has 1.3bn people to feed cloth and provide electricity . Brent and Wti only Went UP ! After china released oil. You know why? Cos OPEC and the oil market KNOW that china india are now desperate for OIL. HAHAHAHA

  6. Non sense Go electric is future not crude oil which produces pollution and destroys ozone layer lead to floods,whirl winds,tsunamis even Go vegan to save imbalance and ecology…Jai Hind..

  7. Fir those who don't know china has implement super computers for prediction about every aspect of market and govt use those prediction into consideration while making policy

  8. Nonetheless, the move by China, the world’s biggest crude oil and commodity importer, was no doubt designed to ease upward price pressures on rising oil import costs, however, it is unlikely to have the desired effect, as we see it.
    For starters, it signals political vulnerability to commodity inflation just as Biden’s earlier plea to OPEC+ did, and even more so, it is not enough physical supply to move the dial and only partially offsets the drop in US production since the storm hit. Initial reports are suggesting that about 22mb will be released which is roughly two days’ worth of oil imports for China or just a couple hours’ worth of daily global demand. On top of that, the release reduces the amount of oil available for a true supply-side emergency and, as such, will have to be refilled in the not too distant future and potentially at higher prices.

  9. China is doing something nefarious behind the scenes, if it is publicly announcing these sales of oil reserves, copper, aluminum, and other minerals. It got the world to stop talking about the Wuhan Virus (COVID-19 virus). China knows that if you talk about something else long enough, you forget the other stuff.

  10. I don’t why it’s a big issue, it’s not about controllling prices, it’s getting some money for the reserves. You can’t keep hoarding for ever. COVID has made everyone short of money, including China. They are smart and lucky they have commodities that they can sell and survive,… you can’t keep printing money forever.