China's Oil Problem Becomes Australia's Fuel Concern

The global energy system has shown an extraordinary ability to adapt in response to supply route disruptions.

However, the US blockade of Iranian oil exports appears to be working, and China's dependence on Middle Eastern crude is becoming a pressing concern.

Iranian crude available to Chinese buyers for September and October delivery has fallen sharply, from an average of 1.4 million barrels per day last year to about 534,000 barrels per day in August.

This shortage is not just an Iranian problem; it's a global issue, as China must replace those lost barrels.