Analysts of Barclays Bank have prepared a chart that reflects the growth of oil reserves in China, which is based on a daily average in recent years. As Brent oil prices have been falling since 2014, the Chinese reserves grew for about twice in 2016. According to media reports, recent published data in China indicates that the average volume of reserves grew to 1.1 million barrels per day. At the same time, since the beginning of the year to July, the volume reached 780 thousand barrels per day, in June-July amounting to 440 thousand barrels per day. The sharp jump in August was caused by restocking of independent refineries, which account for about 20% of China’s refining capacity. There are other factors that caused the increase, such as access to the technical service of a number of state refineries and low oil prices. 

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