The source says Chinese crude stockpiles have fallen by less than 1 million barrels since February 28, when the Iran war began, leaving overall inventories largely intact.
China has maintained large crude oil inventories despite supply disruptions tied to the Middle East, according to the source. It says Chinese crude inventories have declined by less than 1 million barrels since the Iran war began on February 28, with total stockpiles still standing at about 1.8 billion barrels. The figures suggest that, at least over the period cited, China’s inventory buffer has remained broadly stable even as regional geopolitical tensions affected oil supply concerns.