I've posted before on China's stockpile of crude for its government-controlled strategic petroleum reserve (SPR).

  • China. Its like Airbnb, but for oil.

CNBC had this overnight, highlighting it again ahead of the OPEC meeting:

  • China's stock of oil reserves could prove to be the "wild card" for global oil prices and market dynamics
  • Much of China's cheap oil imports have been diverted into its strategic oil reserves which are believed to be close to capacity
  • oil experts believe that China could take advantage of any rise in prices to start using its oil stockpiles as exports, potentially disrupting any major attempts to balance markets

Plenty more at the piece, here