Calls to pump up oil reserves

The country should take advantage of a record drop in global crude oil prices to build up more reserves of the resource, analysts have said.

"Compared with the highest prices in July, crude oil prices have dropped by 50 percent. We should take advantage of the low prices to build more oil reserves," said Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University.

"These oil reserves should include both the national oil reserves and oil companies' commercial reserves," Lin said.