China Profits from Iran-Israel War: How Beijing Stockpiled Cheap Oil Amidst Conflict

• Amidst the Iran-Israel conflict, China has strategically purchased large quantities of cheap crude oil from Russia, Saudi Arabia, and Iran.
• China, the world's largest oil buyer, has significantly increased its oil reserves, estimated at over 1.3 billion barrels.
• If global crude oil prices reach $100 per barrel due to the war, China stands to make substantial profits from its pre-stocked cheap oil.
• India, which imports over 85% of its oil, faces potential increases in petrol, diesel, and gas prices if crude oil prices rise.
• Higher fuel costs in India could lead to increased transportation expenses and inflation, impacting daily necessities and the common person.