8legs: People's republic of china

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Can China rely on domestic oil after Iran, Venezuela shocks?

China faces potential oil disruption risk as Iran and Venezuela shocks test supply lines and sanctions dynamics.
China has boosted its emergency oil stockpiles, increasing strategic reserves to cushion potential supply shocks.
Officials say stockpiling, rather than rapid production growth, will help bolster energy independence amid geopolitical risk.
Beijing is expanding renewables and electrification to reduce oil demand and raise resilience.
Electric vehicle adoption and grid upgrades are central to cutting oil use in transport and industry.
China's refining capacity growth supports energy security beyond crude imports.
Strategic stockpiles and SPR expansion aim to cushion volatility from sanctions and supply shifts.
Analysts say domestic output growth has been modest and cannot fully replace imports.
Beijing diversifies imports and strengthens ties with Russia for discounted crude, amid sanctions on Moscow.
Policy focus through the next five-year plan may emphasize energy security, storage, and renewables.

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