How China eased pressure on oil markets by halting purchases and relying on reserves
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Source: Middle East Eye
Published: 2026-08-21 23:48 UTC+10:00
Section: General
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Business, Education, Asia, Military & Defence, Energy, China, War & Conflict, Asia Pacific
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Snippet:
The closure of the Strait of Hormuz should, in principle, have caused a far greater shock to oil markets than it has. This, in large part, is due to China’s policy of using its strategic stockpiles rather than purchasing crude oil at inflated prices due to the war.
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