Analysts expected oil to surge above $200 but China has quietly kept prices half of that—and can’t for much longer
Despite predictions of oil prices exceeding $200 a barrel due to the Iran war, prices have remained relatively stable, largely due to China's reduced import activity. China has significantly decreased its daily oil imports, making up a substantial portion of the global decrease in crude oil trade. This strategy, coupled with the country's large strategic oil reserves, has helped cushion the impact of the Strait of Hormuz closure, though the long-term sustainability of this approach is uncertain. AI
