China Moves to Expand Oil Stockpiles Against Global Supply Shocks

China is set to extend its oil stockpiling as part of efforts to insulate itself from any “emergency situation”, a senior official from Beijing’s central planning body said today. China is already relatively insulated against supply shocks in energy, Wang Changlin, vice chairman of the National Development and Reform Commission, said today, as quoted by Reuters. Reserve-building will continue to enhance the resilience of the world’s largest oil importer, he also said, as will diversification eff...