China's Oil Reserve Gives It Sway Over Global Markets Amid Conflict

China has amassed the world's largest stockpile of oil, estimated to be between 1 billion and 1.4 billion barrels, equivalent to around 120 days of imports.

This strategic reserve was built over years, with China accelerating its stockpiling in 2024, filling reserves at approximately 1 million to 1.2 million barrels a day by some estimates.

When the US attacked Iran, China dramatically slashed its oil imports, keeping a lid on global oil prices and safeguarding its own economy.

The power of these reserves could be wielded in future conflicts, such as a war over Taiwan, allowing China to resist efforts by the US and its allies to block energy shipments.