Did China just help the world avoid an oil crisis? Since the Iran war began, China's oil imports collapsed to 40% of pre war levels in June, the lowest in nearly a decade. That's roughly 3.5M fewer barrels a day from the world's top importer, easing pressure on global prices even as Brent tops $90 today. Some of it makes sense: EVs are now 62% of new car sales, and diesel demand is getting hit hard by trucking electrification. But nobody outside Beijing knows the full picture. China's reserve size is a state secret, so analysts are split on whether this is real demand destruction or just a pause between stockpiling cycles. If it's the latter, this cushion could disappear fast. What's your read: durable shift, or temporary lull? (Source: Reuters)