Oil prices around 40 $ , China increased its oil reserves

Oil prices remain about 40 $ a barrel in global stock markets against the backdrop of continuing violence in the Middle East U.S. light delivery. price rose in February in the New York Stock Exchange 31 .2 record level of 40,02 $ dollars per barrel.

At the same time, some press reports indicated that China began to increase strategic oil reserves in the recent period advantage of falling oil prices in world markets.

 
The Chinese government intends to increase the number of reserve oil storage facilities have started operation of the first phase in a larger project repository of Chinese crude oil, the volume of investment 956 million dollars.

 
It is expected to be completed at the end of this December. The Chinese Government urges national companies to establish commercial oil reserves in order to avoid shortages or disruption in supplies of crude oil.

 
China has the second largest oil consumer in the world after the United States of America.