中国正在大量囤油，一度吞掉世界九成库存，是有啥大事要发生吗？

Core Viewpoint - The global oil market in 2025 is characterized by stable prices but increased trading activity, primarily driven by China's significant role as a major buyer, accounting for nearly 90% of the global increase in oil inventory in certain months [1]. Group 1: Strategic Energy Policy - China's recent oil procurement is part of a systematic preparation under the new Energy Law effective from January 1, 2025, which mandates national, corporate, and local participation in strategic energy reserves [3][5]. - The law has transformed oil storage from a business consideration to a national obligation, linking performance to state-owned energy companies and requiring cooperation from local governments [5]. Group 2: Storage Capacity and Management - China's strategic and commercial oil reserves total nearly 2 billion barrels, with an overall utilization rate of about 60%, indicating significant remaining capacity for additional storage [5]. - The operational system for oil procurement, transportation, storage, and management is well-coordinated between the state and enterprises, contrasting with the declining strategic reserves in some Western countries [7]. Group 3: Diversification and Risk Management - China's oil purchases are diversified across multiple countries, including Russia, Indonesia, Brazil, and the Middle East, allowing for flexible transportation routes and reducing the impact of potential disruptions [11]. - The shift in oil trade settlement methods, with 70% of transactions between China and Russia now conducted in RMB instead of USD, reflects a strategic move to reduce reliance on a single currency system [11]. Group 4: Global Market Influence - China's large-scale oil procurement is not only for domestic use but is also reshaping global energy market dynamics, as its purchasing data is now considered by OPEC+ when adjusting production plans [15]. - The diversification of supply sources and partnerships with countries like Iran and Venezuela helps mitigate the impact of Western energy sanctions, enhancing China's role in global pricing discussions [16]. Group 5: Long-term Strategic Vision - The current oil procurement strategy aligns with a long-standing Chinese philosophy of proactive preparation, ensuring energy security and stability amid global uncertainties [19][21]. - This approach emphasizes the importance of physical reserves over financial instruments for risk management, allowing China to maintain stability regardless of market fluctuations [19]. Group 6: Conclusion - China's oil procurement strategy is a quiet yet significant move to secure energy resources and maintain market stability, reflecting a comprehensive understanding of national capability, institutional efficiency, and strategic foresight [23][24].