Why China is buying less Iranian oil - explained in charts
China's reduced oil imports, driven by weaker demand, record stockpiles, and EV growth, are unexpectedly stabilizing global markets amid Strait of Hormuz tensions. Despite discounted
China's reduced oil imports, driven by weaker demand, record stockpiles, and EV growth, are unexpectedly stabilizing global markets amid Strait of Hormuz tensions. Despite discounted Iranian crude, Beijing is drawing down reserves and cutting refinery output. This shift offers a rare scenario where the largest importer eases global energy supply pressures.
The BriefWire