Dossier
Erica Downs
Coverage of Erica Downs in the Nexus archive.
- The Great Chinese Oil Mystery
Iran's closure of the Strait of Hormuz led to predictions of oil prices exceeding $150 per barrel, but prices remained below $100 due to China's sudden halving of oil imports. China's reduced demand, equivalent to 5 million barrels daily, offset supply losses and prevented catastrophic price surges, though its methods and sustainability remain unclear.