Goldman Flags Bullish Outlook on China Oil Stockpiling Into 2026

China is expected to keep stockpiling crude at an accelerated rate this year and throughout 2026, as lower prices and the focus on energy security drive a buying spree, according to Goldman Sachs Group Inc.

The Asian nation is projected to add 500,000 barrels a day to its inventories over the next five quarters, Goldman Head of Oil Research Daan Struyven said during an interview this week. The bullish forecast from the bank far exceeds estimates of recent stockpiling efforts from China.