Skip to navigationSkip to content

China has stockpiled 76 million barrels of oil since coronavirus lockdowns

Oil tanks are seen at an oil warehouse at Yangshan port in Shanghai, China
A containment strategy
  • Daniel Wolfe
By Daniel Wolfe

Things reporter

Published Last updated on

Satellite analysis of China’s crude oil containers reveal China is on a buying spree. Data from Orbital Insight, show 937 million barrels of oil in observable storage. It’s the highest level the company has measured since it began tracking in January 2017.

In floating rooftop tanks alone, data show that China added at least 76 million barrels of oil since lockdowns began in Wuhan on Jan. 23. China still has 1.5 billion barrels of storage to spare.

Enrich your perspective. Embolden your work. Become a Quartz member.

Your membership supports our mission to make business better as our team of journalists provide insightful analysis of the global economy and helps you discover new approaches to business. Unlock this story and all of Quartz today.

Membership includes:

Quartz Japanへの登録をご希望の方はこちらから。