Why China can withstand oil's surge past $100 more easily than other countries

BEIJING — Surging oil prices following the Iran war are expected to impact China less than in past years as the country has built large crude stockpiles and diversified its energy sources, including renewables. As oil prices climbed past $100 a barrel for the first time in four years, OCBC analysts said China may be "less sensitive to a prolonged closure of the Strait of Hormuz than many of its Asian peers." "China has accumulated one of the world's largest strategic and commercial crude reserves," the analysts said, adding that its "rapid transition toward electric vehicles and renewable ener

BEIJING — Surging oil prices following the Iran war are expected to impact China less than in past years as the country has built large crude stockpiles and diversified its energy sources, including renewables. As oil prices climbed past $100 a barrel for the first time in four years, OCBC analysts said China may be "less sensitive to a prolonged closure of the Strait of Hormuz than many of its Asian peers." "China has accumulated one of the world's largest strategic and commercial crude reserves," the analysts said, adding that its "rapid transition toward electric vehicles and renewable ener