China's Oil Buffer Is Being Put to the Test as Beijing Draws Down Stockpiles During Hormuz Crisis

China did not purchase according to a rigid schedule but rather acted opportunistically (Credit: U.S. Pacific Fleet/Flickr)

China holds an estimated 1.4 billion barrels of crude in storage, giving it the world's largest estimated strategic oil inventory and allowing Beijing to draw down stockpiles during the Strait of Hormuz crisis rather than participate in the emergency releases organised by Western countries.

According to the US Energy Information Administration, China held nearly 1.4 billion barrels of crude in government and commercial storage at the end of 2025. An estimated 1.1 million barrels a day were added to Chinese strategic inventories during 2025.