China Built the World’s Largest Oil Stockpile From Discounted Sanctioned Crude

As the Strait of Hormuz closure drives oil prices past $100 a barrel and forces Asian nations to ration fuel, China has largely insulated itself from the crisis — drawing on a massive oil stockpile assembled over the years from sanctioned crude purchased at below-market prices from Iran, Russia, and Venezuela. New data from the […] The post China Built the World’s Largest Oil Stockpile From Discounted Sanctioned Crude appeared first on the deep dive.