World & BusinessChina’s oil imports and the changing markets it buys from
A Bloomberg Opinion column says China is still importing significantly less crude than before the Iran war, despite rumors of renewed heavy buying. The change, it argues, is where Beijing buys.
TLDR
A Bloomberg Opinion column shared on September 23 challenges rumors that China is again buying large amounts of crude, saying imports remain significantly below prewar levels while its buying shifts between markets. It describes lower Chinese buying as one of five buffers cushioning the Iran war’s impact on oil markets. The others are Western strategic reserves, bypass pipelines, commercial stockpiles and clandestine tanker runs across the Strait of Hormuz.
China’s oil imports and the changing markets it buys from
A Bloomberg Opinion column says China is still importing significantly less crude than before the Iran war, despite rumors of renewed heavy buying. The change, it argues, is where Beijing buys.
TLDR
A Bloomberg Opinion column shared on September 23 challenges rumors that China is again buying large amounts of crude, saying imports remain significantly below prewar levels while its buying shifts between markets. It describes lower Chinese buying as one of five buffers cushioning the Iran war’s impact on oil markets. The others are Western strategic reserves, bypass pipelines, commercial stockpiles and clandestine tanker runs across the Strait of Hormuz.