How China eased pressure on oil markets by halting purchases and relying on reserves

China has eased pressure on global oil markets by relying on its strategic oil reserves and halting crude purchases amid the Strait of Hormuz closure, keeping prices lower than expected despite major supply disruptions. It has also reduced refined fuel exports and refinery activity to prioritise domestic consumption, with recent partial export relaxations signalling a tentative move towards restocking.

This Wire brief sits within Fusion42's coverage of Climate Tech.