Some interesting stuff in that article:
China isn't a major exporter of refined products, with about 600,000 barrels per day.
But it is the only major producer with significant spare capacity and a massive crude oil stockpile, estimated at over 1 billion barrels.
This level of inventories means China could continue to refine oil at its current rate for about three years, even if its imports dropped to zero.
In effect, China could use its huge stockpile to boost refinery runs, lift exports and ease the looming supply crisis.
This would not only be highly profitable but would also win favour with importing nations, who may otherwise run short of fuels.
We'll take the "Do nothing. Win." meme as read, shall we?
