The energy security situations of many oil-consuming countries have become worse
because of greater uncertainty in the world market. This is especially true for developing
countries such as China and India, which face greater risks because of their lack of strategic
petroleum reserves (SPRs). China and India both embarked on SPR planning during the
past few years, with the expectation of eliminating the effects of future oil-supply disruptions.
In the world oil market, there are probably interactions between the SPR policies, including …