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China Allows State Refiners to Tap Oil Reserves Amid Conflict

4/10/2026

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Summary

Story summary

China authorized state refiners to access oil reserves amid a six-week war in the Middle East.
State refiners Sinopec and China National Petroleum Corporation can draw from inventories.
Analysts estimate use could reach 1 million barrels per day from April to June 2026.
China has about 1.4 billion barrels in reserves to manage disruptions.
The government reduced oil product exports and instructed refiners to maintain production.

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Story summary

China authorized state refiners to access oil reserves amid a six-week war in the Middle East.
State refiners Sinopec and China National Petroleum Corporation can draw from inventories.
Analysts estimate use could reach 1 million barrels per day from April to June 2026.
China has about 1.4 billion barrels in reserves to manage disruptions.
The government reduced oil product exports and instructed refiners to maintain production.