Oil sales to the Asian nation have accounted for 6% or more of the economies of Iran and Russia in recent years Read more at The Business Times.

cross-posted from : https://lemmy.zip/post/66580854

The crude stockpiles held by the country’s state-owned energy companies remain nearly full. Beijing appears not to have tapped its vast strategic reserves, and storage tanks at Chinese refineries are brimming with petrol, diesel and other refined products.

China was able to reduce imports so sharply in part because it had been buying more oil than it needed before the war. For years, it accumulated inventories whenever prices were low as part of a broader push to strengthen national self-reliance and improve its ability to withstand supply disruptions.

  • The_v
    102·
    1 day ago

    China for the past 30 years has over and over again shown one goal: To become an economic and military superpower.

    They are consistently and actively acting to weaken other countries influence and strengthen their own.

    Why are they supporting both sides in the Russian/Ukraine war? Because it’s demolished the Russian military stockpile and made Russia dependent on China for goods.

    Why are they pushing so hard on renewables? It destroys the power of the oil countries over their economy.

    Why are the dumping billions into infrastructure construction like high speed rail? It is less dependent than air infrastructure on aircraft builders in the U.S and Europe.

    The most dangerous thing about China is the leadership is proactive in world events. World politics and economics are being constantly manipulated by the Chinese.