Javier Blas

An oil refinery in China, which at the end of 2025 had the largest strategic petroleum reserve with 1.4 billion barrels held back.
THE BOTTOM LINE

China has a powerful new oil price weapon

Most of the leverage Beijing had over Teheran rested on the money it was paying for oil, which will end if the blockade halts exports.
THE BOTTOM LINE

The Hormuz blockade is as much about China as Iran

In its desperation to hold down WTI, the White House is throwing everything at the problem, including the kitchen sink.

White House is using the wrong oil price for Iran war

In response to surging demand, the size of the land-based animal herd has expanded massively.

My Christmas Iberico ham scare is an omen

For the brave, Big Oil’s time in investment purgatory offered a once-in-a-lifetime buying opportunity.

Big Oil will miss the financial discipline imposed by ESG

The world will reap a record rice harvest of about 541 million tonnes in 2025 to 2026.

Rice can feed the world – even with fewer farmers

Despite rising production from the Opec+ cartel, oil prices have stabilised in recent weeks at just over US$65 a barrel – about US$10 above the lows seen in early May.

Winter is coming for oil – and not in a positive way

China buys 90% of the oil Iran exports.
THE BROAD VIEW

What sanctions? Iranian oil industry is booming

The average Indian today consumes about 1.4 barrels of oil a year, well below the 4.3 barrels a year of the average Chinese.
THE BOTTOM LINE

The oil market has a bigger problem than a slowing China – India

Oil ships docked at a Chinese port. For China and many other developing countries, barrels from Russia, Iran and Venezuela – the three major oil producers under Western sanctions – are as good as any.
THE BOTTOM LINE

The black market for oil will continue to thrive