Geopolitics
China Oil Imports Collapse 4-5 Million Barrels Daily Without Economic Damage
Forward Guidance
Warsh Must Choose The Dollar Or The Bond Market | Luke Gromen
What was said
"China's imports of oil are collapsing. They're down like 4 or 5 million barrels a day. The number one driver to making the, the reason why the oil markets have not done this already has been China's ability to drop its imports by a staggering 4 to 5 million barrels a day and not economically collapse."
Groman reveals that China has absorbed a massive 4-5 million barrel per day oil import reduction without economic collapse, contradicting three-month-old consensus that China would be most harmed by the Iran blockade. He attributes this resilience to China's electric vehicle infrastructure expansion (charging up 55% year-over-year per Jeff Currie) and strategic petroleum reserves. This data point undermines assumptions about U.S. leverage in the conflict.
Verification status
Attributed speaker claim
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
Source and context
Egleze verified who said this and where. The underlying claim has not been independently established by Egleze.
- Programme
- Forward Guidance
- Episode
- Warsh Must Choose The Dollar Or The Bond Market | Luke Gromen
- Clip time
- 29:16
- Original source
- Watch the source segment →
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Forward Guidance