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WHY DO CHINA'S EXPORTS OF REFINED HYDROCARBON PRODUCTS MATTER?

At the start of the Iran war, China helped temporarily the world economy absorb the shock by cutting its own hydrocarbon imports by about 5.5 million barrels per day (so as to partly compensate for the loss of the 20 million that were passing through the Strait of Hormuz before the war).

Yet, China has just increased its hydrocarbon imports by about 3 million barrels per day for now. At the same time, it has curiously started to reduce its own exports of refined hydrocarbons by 0.5 million barrels per day, while global demand for diesel, kerosene, and other petroleum by-products (gasoline, plastics, fertilizers, etc.) is higher than ever!

Why? This video asks the question, but suggests no answer (24:15).

Let me suggest one, which seems rather obvious to me.

I believe that China, with its immense industrial potential in the refining of hydrocarbons, will guarantee its Russian and Iranian strategic allies a steady supply of diesel, ...

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