China has been stabilizing global oil markets by drawing down massive inventories instead of aggressively importing crude, but that strategy may soon run out of room.

Shortages have been mitigated by a slowdown in Chinese oil purchases, robust inventories, emergency stock releases and surging US exports.

Since the start of the Iran war, China has sharply cut the amount of oil it imports.

China has been stabilizing global oil markets by drawing down massive inventories instead of aggressively importing crude, but that strategy may soon run out of room.

China has quietly emerged as the global oil market's stealthy swing consumer, potentially holding off doomsday a while longer.

Beijing uses strict mandates, pricing and guidance to balance economic growth and energy security