China Rushes to Secure Russian Oil as Middle East Supply Risks Escalate
Chinese refiners have bought up all crude oil cargoes set to load from Russia’s Far East port of Kozmino in August weeks earlier than usual, traders with knowledge of the market told Bloomberg on Friday, as risks to Middle Eastern supply spiked this week with attacks on tankers in the Red Sea. China
Source: OilPrice.com
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DW NOTE
China is shifting procurement because the Strait closure made Persian Gulf barrels unavailable, not risky. When you lose access to 20 million barrels per day of supply, you don't hedge — you replace. The headline treats this as forward planning; it's damage control for a market already broken.