Back to today’s briefing

Story perspectives

China Slashes Imports, Releases Reserves as Oil Stays Sub-$90

6/14/2026

50 5

Summary

Story summary

China cut crude imports to about 7.8 million barrels per day, the lowest level since 2017.
Oil prices stay under $90 a barrel, below the $200 forecast and the $114 2022 peak.
The International Energy Agency called the Hormuz closure the most severe oil supply shock in history.
U.S. Energy Secretary Chris Wright said China is releasing oil from its reserve while analysts estimate it holds 0.5-1.5 billion barrels enough for months.

1 of 1

Story summary

China cut crude imports to about 7.8 million barrels per day, the lowest level since 2017.
Oil prices stay under $90 a barrel, below the $200 forecast and the $114 2022 peak.
The International Energy Agency called the Hormuz closure the most severe oil supply shock in history.
U.S. Energy Secretary Chris Wright said China is releasing oil from its reserve while analysts estimate it holds 0.5-1.5 billion barrels enough for months.