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Commodities Briefing - Categorized | Market Moves, Oil more

China seen boosting emergency oil-storage capacity, IEA says

Posted on 15 May 2013

China will probably commission additional storage sites for its strategic petroleum reserve this year, boosting crude demand even as construction work on the program takes longer than expected, according to the International Energy Agency.
The nation, the world’s second-biggest crude consumer, will add 245 million barrels of capacity in the second phase of its emergency stockpile plan, the Paris-based IEA said in its Medium-Term Oil Market Report……………………………………..Full Article: Source


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