Xi Jinping's Oil Stockpile Just Proved Its Worth Against the West - Kurdistan24
Xi Jinping's Oil Stockpile Just Proved Its Worth Against the West - Kurdistan24
Source: Kurdistan24
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DW NOTE
China's Strategic Petroleum Reserve held 1 billion barrels before the Hormuz closure—enough to run the country for 100 days at current consumption. With WTI down 25% from yearly highs despite a six-month shipping blockade and projected 4% global supply decline, Beijing bought the dip while Western governments burned through emergency stocks to suppress voter anger over petrol prices. The SPR was never about energy security; it was about feeding the beast until the next election.