BREAKINGVIEWS-China has enviable buffers against Iran oil shock
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China's oil stockpiles and diversified suppliers position it well against potential shocks from Iran, with reserves sufficient to sustain its economy for at least four months. The consumer price index rose 1.3% year-on-year in February, while the producer price index fell by 0.9%. China has reportedly stockpiled around 1.3 billion barrels of strategic petroleum reserves and aims for an annual oil output target of about 4 million barrels per day in its upcoming five-year plan. The government also plans to expand its strategic reserves over the next five years.
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