LJLewis Jackson

1. Article · Jul 17, 2026 · By Lewis Jackson and Sam Li

   Explainer-China's oil imports have plunged during the Iran war. How much will they recover? (opens the original)

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   BEIJING, July 17 (Reuters) - For five years, China imported an average of 11.5 million barrels of oil per day. Since April, it has averaged just 8 million bpd. The speed at which China has slashed imports — shipments fell to 40% of pre-Iran war levels in June — has kept a lid on global ‌prices and freed up cargoes for other countries. Market observers are puzzled over how the world's biggest oil importer achieved that reduction and want to know how permanent the drop in ‌demand is. "It's the mil

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2. Article · Jul 15, 2026 · By Lewis Jackson and Sam Li

   China turns to electric taxis to soften Hormuz oil shock (opens the original)

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   BEIJING, July 15 (Reuters) - China has an increasingly important buffer against oil price shocks: electric taxis. Across Chinese cities, taxi usage and ridesharing are booming. In May, people took 3.05 billion trips, with government data showing trips have ‌grown 6% since the Iran war began at the end of February, versus March to May last year. The jump reflects a quirk ‌of China's transport structure: fares are falling despite gasoline prices rising. Analysts say a flood of new drivers searchin

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