Why oil markets stabilized far sooner than anticipated | DW News

When the US Iran war started, many feared the world was headed for a devastating, global oil crisis. The Strait of Hormuz is one of the most important energy chokepoints on the planet, and any disruption there can send shockwaves through the global economy. But despite the panic, the worst never happened. Oil analyst Rory Johnston says one country played a surprisingly important role: China.

So how did a collapse in Chinese oil imports help stabilize global markets? And did Beijing quietly prevent an even bigger energy crisis?

#oilmarket #iran #china #straitofhormuz #dwcurrentaffairs

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