China's Oil Strategy: The Quiet Power Shaping Global Fuel Prices

As the world watches oil markets teeter on the edge of volatility, one nation holds more sway than any other: China. According to Karen Young, a senior research scholar at Columbia University's Center on Global Energy Policy, 'Where Chinese demand goes is really the most important piece of the puzzle.' For New Zealanders filling up at the pump, understanding China's next move could be key to predicting what happens next.

How China's Oil Imports Have Dropped

China has slashed its oil imports by nearly one-third compared to last year, according to May customs data. This is a mystery to most analysts. The country is believed to have the world's largest oil stockpile, but satellite monitoring shows little