China Buffered from Oil Shock by Shipments at Sea

Cargo ships and tankers are seen off coast city of Fujairah, in the Strait of Hormuz in the northern Emirate on February 25, 2026. (Photo by Giuseppe CACACE / AFP)

New data from the commodities-focused publication The Kobeissi Letter showed that China is relatively sheltered from an immediate shock triggered by the disruption of oil shipments through the Strait of Hormuz, as about 39.3 million barrels of mostly Iranian, Russian, and Venezuelan oil are currently floating in tankers off China’s coast.

The publication estimates that 30.2 million barrels from Iran, 5.6 million from Venezuela, and 3.2 million from Russia are anchored in the Yellow Sea and the South China Sea.

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by CGSP Staff

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