China's Independent Refineries Benefit from Iranian Oil Imports

A significant portion of Iranian oil is directed to China's independent 'teapot' refineries, which are typically smaller and privately owned. Bloomberg posted on X, highlighting a discussion on the Odd Lots podcast featuring Erica Downs, who joined hosts to explore China's strategic oil reserves. The conversation delved into how China's accumulated buffer oil stock could potentially serve as a strategic advantage for the country.