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China’s oil stockpiling helped curb a deeper oil price surge

China ramped up crude stockpiling after the Iran war began in late February, then pulled back on purchases to ease the market.

Reported · Written up by our desk · Trade & Tariffs

CNBC World reports that China’s crude stockpiling and later reduction in buying have helped prevent a more severe global energy squeeze since the Iran war disrupted supplies in late February.

According to the outlet, China’s buildup effectively added supply buffer, and the subsequent pullback on purchases lowered incremental demand pressure as the disruption continued.

The report frames China’s actions as a key factor in keeping the lid on what could have become a deeper oil price surge during the heightened supply shock.

Latest closeWTI crude $97.01 ▲4.3%

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