China, the world’s largest crude importer, may tap commercial oil reserves as
the Middle East war persists, FGE NexantECA said. Refineries, especially in
southern China, could draw up to 1 million barrels per day over four–six weeks
to limit run cuts or prevent shutdowns. Beijing holds an estimated 1.4 billion
barrels of reserves, largely untouched strategic stocks. Analyst Antoine Halff
recently noted crude stock dips may reflect normal short-term volatility rather
than Gulf disruptions reaching China yet.
