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المشهد العربي
IEA commends China’s influence on oil stability
The International Energy Agency confirmed that China has played a significant role in stabilizing the global oil markets, as it greatly reduced its imports by nearly 50% compared to the period before recent tensions in the Middle East, contributing to rebalancing the market. It explained that challenges related to supply security and increasing concerns over navigation safety prompted producing countries, especially in the Middle East, to adopt alternative routes to the Strait of Hormuz, while oil exports from the United States, Brazil, Venezuela, and Kazakhstan helped compensate for part of the deficit caused by the decline in Middle Eastern supplies.
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