Wednesday 15 April 2026

South Africa has emergency stockpiles of crude oil, currently holding about 8 million barrels in strategic reserves. However, these reserves are significantly lower than the country's total storage capacity, which is around 45 million barrels at the Saldanha Bay terminal. There are concerns among lawmakers about the insufficient strategic oil stockpiles, as much of the storage is empty and the country's refining capacity has declined. Despite these challenges, South Africa is not drawing down its strategic reserves at this stage, indicating that the country is not currently drawing down its stockpiles.
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