China has delayed 500,000 bpd of refining capacity, including an Aramco-backed plant, as Hormuz disruptions slash crude imports by 44%.

China has delayed 500,000 bpd of refining capacity, including an Aramco-backed plant, as Hormuz disruptions slash crude imports by 44%.

China has begun drawing from its vast crude oil inventories to reduce expensive imports and cushion the impact of the global supply disruption caused by the Middle East conflict.

The Strait of Hormuz, just 29 nautical miles (54 km) wide at narrowest point may be one of the world's most critical oil chokepoints. But as disruptions rattles the waterway, an…

China's crude oil imports dropped 29% to an eight-year low during the Iran war, keeping Brent crude under $100 as Beijing drew down strategic reserves.