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China's role in oil price outlook
China has significantly influenced global oil markets by reducing imports, building strategic reserves, and increasing reliance on electric vehicles, which has helped cushion the impact of supply disruptions caused by the Iran conflict. Despite over a billion barrels of oil potentially being released into the market if the Strait of Hormuz reopens, analysts predict that oversupply could occur next year, with China playing a key role in balancing supply and demand. China's energy policies and consumption patterns remain critical factors in determining future market movements amid ongoing negotiations between the US and Iran.
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