Iranian analyst says China helped curb oil price surge through demand management
Mehrad Ebad said China cut purchases during supply disruptions and bought oil when prices fell.
An Iranian energy analyst attributed a degree of recent oil-market stability to China’s strategy of adjusting purchases and replenishing reserves when prices fell.
Iranian energy analyst Mehrad Ebad said China’s strategy of reducing oil purchases during periods of tight supply, while replenishing strategic reserves when prices declined, helped contain global prices and avert a potential rise to $200 a barrel. He said China reduced purchases by as much as 40% at times and played a more significant stabilizing role than OPEC+ during the recent market turmoil. The claims were reported by Iran’s IRNA news agency.