International Oil Prices, The Impact Of China's Oil Reserves

With China's rapid economic development, industrialization, urbanization and motorization rate is the constant acceleration is dependent on oil resources, deepening, China has become the world's oil demand growth rate of the fastest growing countries, and this corresponds to our oil supply situation is not optimistic, since 1993 China became a net oil importer, China's oil imports increased year by year, the foreign dependency rate is also rising, by 2009 China's oil import dependency is the first time 50% of the internationally recognized warning line. Once the international oil market supply shortage of a temporary or partial, abnormal fluctuations in oil prices or international political instability, oil supply to China will have an enormous threat, thereby endangering the safety of the national economy. Therefore, in order to ensure the security of oil supply, to ensure continued economic growth, drawing on the experience of developed countries, China began in 2003, the National Petroleum Reserve, has for eight years, many scholars of various aspects of National Petroleum Reserve were studied and analyzed.This article from the perspective of international petroleum price is mainly studied oil reserves of international oil prices in the influence of costs and benefits of oil reserves in China, established the total costs of the model, and the method using decision tree that in 2009 the empirical analysis of the optimal scale oil reserves is 90 days, our country's existing petroleum reserve scale far not to achieve optimal, needs to accelerate the construction of China's oil reserves, finally, based on the pace of international oil prices and petroleum reserve linkage system analyzed under different international oil prices interval oil reserves, the overall strategy for our country's oil reserves provide certain reference for the construction of the decision.