• 3abas@lemmy.world
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      2 days ago

      The largest net importer of oil. Not only do they consume so much, they also have the largest strategic reserve of crude. They’ve been tapping it since the Epstein-Iran war limited their access to Iran oil and prices went up.

      They have massive refining capacity and they export refined fuel.

    • stickyprimer@lemmy.world
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      2 days ago

      Yes. Massively so. I hear people say things like “Chinese oil” and it doesn’t make any sense to me. There is virtually no Chinese oil. There is Chinese financing, and there is Chinese refining services.