China's Oil Dependency on Unstable Middle East Leaves it Exposed

China is the largest importer of oil from Saudi Arabia and Iran, so has high exposure if conflict spreads in the Middle East.

China's oil imports have surged, now making up 72% of its needs, from self-sufficiency in the 1990s.

China has tripled Iranian oil imports despite sanctions, buying at discounted prices.

China is expanding oil storage capacity and has built strategic reserves.

As a major stakeholder, China may need to play a bigger role in stabilizing the Middle East.