As Oil Prices Declined, China, Japan, and the US are Filling their SPRs

Oct 03, 2024

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While the US has been rebuilding its SPR since last year, China and Japan have taken advantage of the recent decline in oil prices and started filling their own strategic petroleum reserves as shown in Figure (1). As we will see below, the impact is significant, especially when it comes to China.

As Oil Prices Declined, China, Japan, and the US are Filling their SPRs

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