China Takes The Advantage Of Low Oil Prices To Hoard

Coronavirus-induced lockdowns have lowered the demand for crude oil and have subsequently caused the prices to crash. At a time like this, one country is taking advantage of low oil prices as it prepares to restart its economy after a long fight against COVID-19. China is the biggest importer of oil in the world. While China is on an oil buying spree, there are also disadvantages of low oil prices for the country. Crux breaks down both sides of the coin to explain the complicated relationship between oil and China.

[kriskris]

Welcome to CHINA
CHINA ❤️ PEACE
CHINA ❤️ STABILITY

[Organic.Mechanic]

That's smart strategy hopefully india will follow this strategy.

[basshunterdota]

India should also hoard but India doesn't have infrastructure to hoard more, Currently only have reserves which will last upto 2 months

[samthai]

China was already close to being filled to capacity. From the last few months of falling prices. Where are they going to store all of this oil! This is overblown. I wouldn't worry too much. The whole world has been storing oil due to falling prices. The oil will remain low for at least a couple of years.

[xpirateleosx]

Whats the effect of these all on indian economy arent they neighbours? India will benefit or will be at loss???

[CartoonistVikrant]

Some very bad background music and editing.

[speakasad]

We should avoid buying Chinese products and go on with the Make in India Initiative to save India's economy.

[namnaduok]

Lol... everyone is hoarding oil, not just china🤦‍♂️. Educate yourself on future derivatives pls

[sandy]

It's just Karma, you reap as you sow. The nation would have negative economy and gdp, wonder what would be done. Super power to isolated underpower, what a transformation!!

[vei_chou]

Lol...I don't think it's a bad thing for them
Any rational human would hoard and buy something that is cheap, available and valuable