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While the World Scrambles for Oil, China Sits on Full Tanks

21 June 2026 at 10:01
The possible reopening of the Strait of Hormuz may not prompt China to return quickly to prewar levels of oil purchases from the Persian Gulf.

Β© Hector Retamal/Agence France-Presse β€” Getty Images

An oil refinery in Nanjing, in China’s eastern Jiangsu province, last month. Chinese companies kept their refineries running throughout the war.

The Iran War is Forcing Energy-Importing Countries to Turn Inward

The Iran war is pushing countries to prioritize domestic energy in order to protect themselves from volatile oil and natural gas markets.

Β© Jes Aznar for The New York Times

The president of Solaric, a rooftop-solar installer based near Manila, said people were now seeing the technology as β€œa way to survive this new age.”
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