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Global Business News

The Economic Times

Global Business / The Economic Times

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China's oil fortress will reshape the global order

China shielded itself from the Iran war's energy shock by cutting crude imports and restricting fuel exports. This move demonstrated its capacity to manage global energy flows independently. The nation's substantial oil stockpiles remain largely untapped, offering future strategic options. China's actions transformed it from a price taker to a price maker in oil markets. This shift indicates a new era of energy interdependence and potential global power dynamics.

16 Jul 2026 12:21 pm