Coin Bureau(@coinbureau):🇨🇳BREAKING: China slashed oil imports by 5.5 MILLION barrels per day during the Iran war and single-handedly shaved $30 off global oil prices. That is a bigger demand cut than the entire world made during COVID, except China's GDP kept growing through it, per The Economist. Beijing used three levers: it drew down 150 MILLION barrels of reserves, halved fuel exports, and pushed citizens onto trains and EVs while infrastructure projects were paused. One oil trading executive put it simply: "China is the new OPEC."

2026.08.23 08:40

🇨🇳BREAKING: China slashed oil imports by 5.5 MILLION barrels per day during the Iran war and single-handedly shaved $30 off global oil prices. That is a bigger demand cut than the entire world made during COVID, except China's GDP kept growing through it, per The Economist. Beijing used three levers: it drew down 150 MILLION barrels of reserves, halved fuel exports, and pushed citizens onto trains and EVs while infrastructure projects were paused. One oil trading executive put it simply: "China is the new OPEC."