China's Oil Reserves Stabilize Amid Mideast Conflict

Beijing, March 10—China's strategic buildup of crude oil reserves has provided a critical buffer as escalating conflict in the Middle East disrupts global energy supplies, allowing the country to maintain domestic stability while other Asian nations face shortages.

In the first two months of 2026, before fighting intensified in the region, China imported 96.93 million tonnes of crude oil, a 15.8 percent increase from the same period a year earlier, according to official customs data. This surge, valued at slightly less in U.S. dollar terms due to market fluctuations, contributed to record stockpiles estimated at between 851 million and 1.4 billion barrels, including commercial, strategic, and underground storage. Analysts describe these reserves as equivalent to 115 to 120 days of import coverage, far exceeding the U.S. Strategic Petroleum Reserve's current 415 million barrels.

The buildup stems from years of deliberate efforts to enhance energy security amid geopolitical risks. China, the world's largest oil importer, sources nearly half its seaborne crude from the Middle East but has diversified suppliers across continents, including stakes in projects from South America to...