China resorts to commercial oil stocks to absorb the repercussions of the Iran war

China has begun withdrawing part of its commercial reserves of crude oil, with the aim of absorbing the shock of supply shortages resulting from the Iran war.

This comes at a time when Chinareduced refinery operating rates and imposed restrictions on fuel exports to deal with the repercussions of the US-Iranian war crisis.

According to company estimates "Vortexa"and"Kepler"and"Energy Aspects"The average withdrawal from oil reserves is expected to reach about one million barrels per day during the coming months, according to Bloomberg.

Since the outbreak of war in Iran, and the closure of the Strait of HormuzThe supplies imported by China from Crudeoil, while the withdrawal from stocks of one million barrels is estimated at about a third of those supplies.

The commercial and strategic oil reserves of China, which is the largest importer of oil in the world, are estimated at about 1.2 billion barrels.

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