China’s electric taxis are blunting the Hormuz oil shock, but only at the margins

China’s crude oil imports fell 41.3% in June from a year earlier to 29.27 million tonnes, the lowest monthly total since October 2016, according to customs data released on 14 July. Five months into the Strait of Hormuz crisis, Beijing is buying less oil than at any point in a decade. Some of the slack is being […]

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