https://www.youtube.com/watch?v=YjG3BkMI2wk
China’s Oil Resilience Amid Global Shock: “Experts” Caught Off Guard Again
by 
In a new video released today by the channel Inside China Business, host Kevin Wamsley delivers a pointed critique of Western energy analysts and oil-industry insiders who predicted that China — the world’s largest importer of crude oil — would be crippled by the ongoing military disruptions in Venezuela and the Persian Gulf. Instead, the opposite has occurred: China is operating with significant crude-oil surpluses, while Western markets grapple with severe shortages and rapidly rising prices.
The video, titled “Energy and China ‘experts’ spectacularly wrong, again,” runs through the real-time results of more than a decade of Chinese Belt and Road Initiative (BRI) investments in global energy infrastructure. Those projects, the analysis argues, have now matured into a resilient, sanctions-resistant supply network that insulates Beijing from the very shocks that are hammering the rest of the world.
The Prediction That Failed
Western analysts had widely expected that the closure of the Strait of Hormuz and US actions against Venezuelan oil flows would starve China of discounted crude, force painful consumption cuts, and send global prices even higher as Beijing scrambled for replacement barrels. Satellite imagery, shipping data, and refinery throughput numbers were all cited as evidence that China would soon face the same pain everyone else was experiencing.
Yet, as Wamsley notes, China’s oil majors are currently net sellers of crude in both European and Asian spot markets. Inventories inside China are not being drawn down. Domestic demand has not collapsed. And Beijing has not issued emergency conservation orders or slashed industrial output — moves that other Asian economies and Europe have already taken.
The video highlights a striking paradox: while countries everywhere are “racing around for new supplies,” Chinese policymakers have made “no radical moves to slash consumption.” The result is a global market in which China appears to be in surplus while the rest of the world runs short.
The Belt and Road Backbone
The explanation, according to the video, lies in the hundreds of billions of dollars Beijing has poured into energy, mining, refining, and logistics projects across the Global South since the mid-2010s. These BRI initiatives — often dismissed in the West as “debt-trap diplomacy” or strategically irrelevant — have created an alternative energy ecosystem that operates largely outside Western sanctions and military reach.
Key examples cited:
- Africa’s largest refinery (built by Chinese engineers in Nigeria) and expanded oil trade ties with the continent.
- Record Brazilian oil exports to China, helping offset any Venezuelan shortfalls.
- Mature logistics corridors and long-term contracts with producers in Latin America, Central Asia, and the Middle East that are not dependent on Hormuz transit.
- Strategic stockpiling that has kept Chinese inventories stable even as imports have reportedly declined by roughly 25% since the Iran-related conflict began.
These investments have also forged deeper diplomatic and economic blocs among “global majority” countries. Intra-bloc trade is growing at double-digit rates, and many partners now view China as a more reliable long-term buyer and partner than traditional Western markets.
A Pattern of Miscalculation
Wamsley frames this as the second major analytical failure by Western oil watchers in recent years regarding China’s energy position. The current episode, he argues, is playing out in real time: analysts studying satellite photos and making “educated guesses” are once again missing the bigger picture of Beijing’s strategic preparations.
Closing footage of the Nanming River in Guiyang serves as a quiet visual reminder that China’s domestic economy continues to hum along despite external turbulence.
Broader Implications
The video does not claim China is immune to all energy risks, but it underscores a structural shift: decades of patient investment have produced tangible strategic autonomy. As one linked Reuters analysis in the description notes, the current oil-supply shock may worsen even if the Hormuz conflict ends, because global inventories have fallen to critically low levels. China, however, appears positioned to weather — and even benefit from — the rebalancing.
For policymakers and markets watching the Persian Gulf crisis unfold, the Inside China Business segment serves as a timely case study in long-term geopolitical risk management. While Western capitals debate short-term military and sanctions responses, Beijing’s BRI-era infrastructure is quietly demonstrating its value in the face of the largest energy-supply disruption in decades.
The full video is available here: https://www.youtube.com/watch?v=koldCyxIIN8. It is essential viewing for anyone trying to understand why the global oil market is behaving so differently for China than for everyone else in 2026.
Turning to the war with Iran. Al Jazeera and Al-Mayadeen, citing Iranian official sources, report that Tehran’s response to the US proposal covers:
➡ending the war across the entire region (including Lebanon — framed as a red line condition)
➡full lifting of US sanctions
➡return of frozen Iranian funds
➡continued Iranian control of the Strait of Hormuz
➡nuclear programme negotiations.
The response was described by Iranian officials as presented in a “realistic and positive framework.” I discussed in detail Trump’s rejection of the Iran proposal to end the fighting. Trump announced this shortly after his phone conversation with Bibi Netanyahu… Once again Trump is taking his marching orders from Bibi.
Here is my discussion with Mario:
https://www.youtube.com/watch?v=SIGGyRZPmBc&t=1s
I covered some of the same ground with Pyotr Kurzin:
https://www.youtube.com/watch?v=JwAjKVhY4l4&t=2s
