Beijing’s billion-barrel weapon: Why India must prepare for China-driven oil prices

 China has accumulated as much as 1.4 billion barrels in strategic and enterprise-controlled inventories, according to a new RAND study. That is more than three times the roughly 413 million barrels held in the US government’s Strategic Petroleum Reserve. China has accumulated as much as 1.4 billion barrels in strategic and enterprise-controlled inventories, according to a new RAND study. That is more than three times the roughly 413 million barrels held in the US government’s Strategic Petroleum Reserve.