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China's avoidance of Iran war fallout
China succeeded in reducing its oil imports during the U.S. war on Iran without affecting its economy. This was achieved through strategies such as relying on large oil reserves, increasing the use of electric vehicles, reducing refinery operations, and relying on coal as an alternative energy source. As a result, its imports dropped from 11.6 million barrels per day in 2025 to approximately 8.1 million barrels in the second quarter of 2026, a decrease of 48.19% between February and June. This helped ease global oil prices. Beijing utilized its oil reserves, withdrawing about 71 million barrels since May 2026, while mostly retaining its strategic reserve untouched. These measures supported its economy and stabilized global energy prices.
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