China Oil Imports Hit Decade Low as Beijing Draws Down Stockpiles

🛢️ BEIJING — China is burning reserves, not buying — that's a signal, not a solution. 📌 LOOK CLOSER: Decade-low imports while drawing stockpiles means Beijing is deliberately reducing market exposure during peak war-premium pricing. It removes China as a Brent floor buyer precisely when Gulf supply is constrained. For Tehran, it shrinks the customer base absorbing sanctioned oil. For markets, it signals China expects either resolution or prolonged pain — and is hedging both.