April 12, 2026 — China's Strategic Petroleum Reserve Purchases Slow in March.
Strategic Reserve Strategy
China's Strategic Petroleum Reserve has become a key indicator of Asian demand expectations. Beijing has been building reserves opportunistically during price dips, adding approximately 500,000 bpd to storage when crude dropped below $70 in early 2025. The pace slowed in March as prices climbed above $90 amid the Iran crisis. China holds an estimated 950 million barrels in strategic reserves — enough for approximately 80 days of imports.