Daily Management Review

China is stocking up for winter


11/15/2017


China returned to the accumulation of oil reserves in November, which was a serious rebound compared to September and October, when stocks fell by more than 120 million barrels according to Orbital Insight Inc.



pixabay
pixabay
During the first 9 days of the month, the country’s oil reserves grew by about 37 million barrels. From 2014 to 2016 years, the country on average increased its reserves by 22 million barrels from early November to late December, according to Orbital.

Chinese reserves are much more important for the glut of the world oil market than less than a third of the total oil production since the summer of 2014.

JPMorgan in 2016 estimated that the annual growth of China's strategic oil reserve was dizzying: from 491 thousand barrels per day in 2015 to a record 1,191 million barrels per day in 2016, which is approximately 15% of total imports of the country's oil.

Previously, JPMorgan found out that the Chinese strategic oil reserve is in dangerous proximity to its design capacity, which is just over 500 million barrels. Analysts predicted that Chinese oil imports will decline by about the volume that has gathered in the strategic oil reserve, since the end of 2016, when the reserve reached full capacity.

source: bloomberg.com






Science & Technology

China takes the lead in quantum cryptography

Gartner: Chinese smartphones lead sales

Bitcoin Mining Worsens Global Warming Effect

Europe overtakes US by number of patents for self-driving car technologies

Samsung introduces display technology for folding screens

How retailers use technologies to increase sales

Facebook releases videochat devices Portal and Portal Plus

Smartphone makers will pay for pre-installing Google apps‍

Five loudest data leaks

Airbus announces Moon exploration competition

World Politics

World & Politics

Hong Kong refuses tiny apartments

Tumblr, Facebook wage war against adult content

Arrest of Huawei’s top manager endangers US-China trade truce

Has Macron given up to Yellow Vests?

What to expect from G20 Buenos Aires summit?

China steps up space race with the US

Climate change will cost US $ 500 billion a year

China manages to stop growth of big cities population