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Why China is buying less Iranian oil - explained in charts
The Strait of Hormuz, just 29 nautical miles (54 km) wide at narrowest point may be one of the world's most critical oil chokepoints. But as disruptions rattles the waterway, an unexpected trend is emerging, as China which is Iran's biggest oil customer is buying significantly less crude. While Beijing continues to rely on Tehran for discounted oil, weaker domestic demand, refinery cutbacks, record stockpiles and the rapid rise of electric vehicles have reduced its need for fresh imports.
Saved by the barrel: Why crude hasn't hit the $200 mark
When the Strait of Hormuz tightened, many braced for $200-a-barrel oil. More than three months on, that nightmare scenario is still nowhere in the picture. The disruption, which removed more than 10 million barrels a day of Middle Eastern supply from the market, had fuelled warnings of crude prices soaring to as much as $200 a barrel.
Russian crude here to stay? Why India-US energy ties may be more about LPG, LNG than oil
US President Donald Trump announced in February that India would stop buying Russian crude oil and step up energy ties with the United States of America. Four months after that, India’s Russian oil imports are near record highs and the US still doesn’t feature among India’s top five crude suppliers. But notably, India has stepped up LPG and LNG imports.