EnergyHighEmergingAccelerating
7.5
China's strategic reserves cushion Hormuz closure; new price threat emerges
Capital.grLO·CN · IR·about 4 hours ago
Chinese independent refiners, or teapots, are expected to cut processing rates as international oil prices rise and supply from Venezuela and Iran tightens due to U.S. policy. Their thinner refining margins make them more vulnerable than state-owned majors. This signals potential near-term reduction in Chinese crude demand and product output, with implications for global oil balances.