中国为何突然开始大量囤油？日吞全球近半储量，有啥大事要发生？

Core Insights - China's recent actions in the international crude oil market have garnered global attention, with daily imports reaching tens of millions of barrels, indicating a strategic move beyond mere opportunistic buying [1][25] - The country has absorbed a significant portion of the world's new oil inventory, enhancing its strategic oil reserve capabilities and subtly altering the global oil market dynamics [1][3] Group 1: Import Trends - China's average daily crude oil imports have exceeded 11 million barrels this year, surpassing the daily production of some major oil-producing countries [3] - Approximately 90% of the global new oil inventory added in the first half of the year has been absorbed by China, with a daily storage rate of 1.4 million barrels [3] Group 2: Market Impact - International oil prices fell to near five-year lows in October, but China's substantial purchases have stabilized prices around $65 per barrel, forcing adjustments in market supply and demand [5] - China's purchasing behavior has influenced other countries to act cautiously due to concerns over storage costs and risks, leading to a subtle shift in the international oil market [5][23] Group 3: Strategic Considerations - China's oil procurement is driven by a combination of institutional mandates, risk prevention, and asset allocation strategies [9][16] - The implementation of the new Energy Law mandates both state and private enterprises to maintain oil reserves, resulting in rapid expansion of storage facilities [9][11] Group 4: Risk Management - Given the current geopolitical uncertainties, including conflicts affecting oil supplies, China has increased imports from sensitive regions, such as Russia and Iran, to mitigate external risks [12][20] - By bolstering its strategic reserves, China aims to safeguard its domestic economy against potential global energy supply disruptions [14][20] Group 5: Financial Strategy - Oil is viewed as a tangible asset that can hedge against fluctuations in the dollar and uncertainties in financial markets, prompting China to convert some foreign exchange assets into physical resources [16] - This strategy not only secures energy supplies but also serves as a means of asset allocation, reflecting a comprehensive approach to risk management and financial stability [16][25] Group 6: Long-term Planning - China's oil reserve days have increased from 110 to approximately 180, indicating preparedness for potential global supply interruptions [18] - The strategic reserve initiative is part of a broader national strategy to enhance energy security and reduce dependence on foreign sources, encompassing not just oil but also food and renewable energy development [20][26]