China stabilizes global oil supply

China has played a significant role in restoring balance to the global oil market by reducing its imports by approximately 3 million barrels per day and storing over one billion barrels of oil in its strategic reserves. This helped curb rising prices despite supply shortages from the Middle East and the impact of the Iran war. Additionally, its investments in the electric vehicle market and efforts to reduce oil consumption have helped ease global demand. Analysts have indicated that China's ability to support the market may decline as its reserves decrease, especially if prices continue to fall.

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