China Taps Commercial Oil Stockpiles to Help Weather Gulf Shock
AI Summary
China is drawing on its commercial crude oil reserves to mitigate supply shocks caused by conflict in the Gulf region. The country is also limiting refinery use and fuel exports to manage the impact on its energy market.
China has started tapping its commercial crude reserves to help offset the supply shock from the Iran war, although the world’s biggest oil importer is continuing to prioritize lower refinery use and fuel export limits to manage the fallout.
Politics Markets Commodities Energy China commercial crude reserves oil supply shock Gulf conflict refinery use fuel export limits energy market