On the evening of the 9th, the State Bureau of Grain and Materials Reserve issued a message stating that with the approval of the State Council, the State Bureau of Grain and Materials Reserve organized for the first time in a rotating manner to put in batches of national reserve crude oil. This launch is mainly for domestic refining and chemical integration enterprises to ease the pressure of rising raw material prices for production enterprises.
Implementing the normalized rotation of national oil reserves is an important way to give play to the regulatory role of the reserve market. Putting national reserve crude oil on the market through open auction sales will better stabilize the domestic market supply and demand and effectively guarantee national energy security.
Source: Chemical Network
