In Charts: How Iran War Tests China’s Oil Supply

The latest U.S. strikes on Iran have put China’s oil supply chain to the test. As the world’s largest energy consumer and a net importer of crude, Beijing has long treated energy security as a core national priority. Chinese leader Xi Jinping has repeatedly emphasized the need for self-reliance in energy supplies. “The energy rice bowl must be held in our own hands,” Xi said in 2021, a phrase that has since become a slogan for his energy policies. The latest conflict involving Iran has underscored the vulnerability of that “rice bowl.” According to energy consultancy Wood Mackenzie, the Iran War significantly affects the crude oil market, with 15 million barrels a day (mbd) under threat, five times the comparable impact of the Ukraine War....