More details on the India and Plans China's crude oil stocks

Energy expert Matt Badiali written in DailyWealth plans for China and the India to create strategic reserves of oil of their own could put a floor under the price of oil for years to come:

China and the India are facing the same dilemma faced in 1973 United States. None of the two countries have enough oil to keep its citizens rolling for a long time. Both are exposed to a dangerous oil shock, economy-murder. And the two begin to construct and filling strategic petroleum reserves of their own. They have no choice but buy oil like a madman at these levels.

China already has approximately 102 million barrels in reserve. It plans to add another 168 million barrels of storage from this year. It will end its reserve planned 500 million barrels - equal to three months of imports - 2020. To achieve this mark, China should supplement of about 122 000 barrels of oil per day.

The India was just of 9.8 million barrels of crude oil, hidden until now. She plans to put 40 million barrels in a strategic storage by next year. Which will amount to 80,000 additional barrels of oil purchased by day.

China and India all need to purchase additional some 200,000 barrels per day. Which consumes another 1.1% of global exports. And don't forget, the Libya used to hold oil account for 5% of world exports. This oil could be offline for years.

Complete article - DailyWealth: how China and the India are defined to Slam the price of crude oil

World of Warcraft: those who are big enough number.  Of course they could be in danger if/when China and the India go bust, but who knows when it could be - in the meantime, this storage should continue.
It's a full on BULL-market in black goo!

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