China’s Worrying Oil Vulnerability

Friday October 11, 2019 1. China’s Middle East vulnerability- China is the largest oil importer in the world and its vulnerability lies in its dependence on oil flows from the Middle East. China’s oil imports from the region have surged from 0.33 mb/d in 1998 to 4 mb/d in 2018. – The Abqaiq attack highlighted the stakes. “With over 1 mb/d of Chinese refining capacity designed with Saudi crude as baseload, and imports from Saudi at 1.6 mb/d between January and July 2019, Chinese buyers had reason to panic,” the Oxford Institute…