China's Oil Imports Drop Sharply Amid Iran War; Market Uncertain About Recovery
Chinese oil imports have fallen significantly since the start of the war with Iran, averaging just 8 million barrels per day in recent months compared to a five-year average of 11.5 million bpd. The decline has helped stabilize global prices and redirected supplies elsewhere. Analysts remain uncertain about how permanent this reduction will be due to limited visibility into China's oil reserves and consumption patterns.