From The Kobeissi Letter:

China is sitting on massive oil reserves:

Chinese crude oil imports surged +15.8% YoY in February, the biggest monthly jump since August 2023.

Growth rates have QUADRUPLED since the end of 2025.

After over a year of stockpiling, China has built up an estimated 1.2 billion barrels of reserves.

This includes ~851 million barrels of commercial inventory, the supply that would likely be used first.

Meanwhile, refiners could start drawing as much as 1 million barrels per day over the next 4 to 6 weeks.

In the first week of the Iran War, Beijing already ordered its biggest refiners to restrict fuel exports and prioritize gasoline and diesel production over chemicals as a precautionary move.

China is playing the long game amid the Iran War.

Suggests they expect this war to go on for a while. Some parts of the world, incl Europe, are fuckt.
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@BroDrillard @anonaccount
China is still getting their oil from iran and the strait, although in a reduced capacity (since the gcc is partially offline).
China knows all they have to do is the same as Russia, sit tight, relax and profit from trump sacrificing the US for Israel.

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