Odd Lots: War in Iran and Its Impact on China’s Oil (Podcast)

In the wake of the war in Iran, oil prices have shot up for everyone. But not all oil is exactly equal. And, obviously, a lot of Iranian oil goes...

By Tracy Alloway, Joe Weisenthal · Bloomberg Markets

In the wake of the war in Iran, oil prices have shot up for everyone. But not all oil is exactly equal. And, obviously, a lot of Iranian oil goes to China specifically. Furthermore, because Iran’s oil is sanctioned, a lot of it winds up at China’s so-called “teapot” refineries, which tend to be smaller and owned by independent companies. On the other hand, China has famously been building up its strategic petroleum stockpiles for years, and due to the rise of electric vehicles, they may have les