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.