Analysts warn that drawing down reserves cannot continue indefinitely without rebuilding inventories.
So,prices will rise worldwide significantly to 10 or 12 dollars a gallon or who knows what when this happens (all because of Trump's idiocy in Iran).
begin quote from AI Overview
✅ China's Stockpiles and Lower Oil Prices
China has kept global oil prices from surging by sharply reducing its overseas purchases and drawing down its massive crude stockpiles of around 1.2 billion barrels.
📊 The Mechanics of China's Market Impact
- 📦 Massive Reserves: China holds an estimated 1.2 billion barrels in onshore storage.
- 📉 Import Cuts: Purchases dropped by several million barrels a day during Middle East supply shocks.
- 🔌 EV Transition: Rapid adoption of electric vehicles permanently lowered domestic transport fuel demand.
⚠️ Sustainability of the Strategy
- ⏳ Depleting Buffers: Analysts warn that drawing down reserves cannot continue indefinitely without rebuilding inventories.
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