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An oil tanker unloads crude oil at a terminal at the port in Qingdao, in China's eastern Shandong province on March 11, 2026.
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BEIJING — On Monday, China emphasized that it has sufficient energy resources despite the Iran war disrupting oil flows through the Strait of Hormuz, while U.S. President Donald Trump presses Beijing to assist in securing this vital waterway.
"China's energy supply is relatively strong," and provides a "relatively good" foundation to respond to external market volatility, Fu Linghui, spokesperson for the National Bureau of Statistics, told reporters in Mandarin, as translated by CNBC.
The bureau also reported that China's domestic crude oil production increased by 1.9% year-on-year to 35.73 million metric tons during January and February.
Trump stated on Sunday that China should assist efforts to restore oil flows through the Hormuz Strait ahead of his planned visit to Beijing later this month, according to The Financial Times. He also indicated he might delay his trip.
Crude oil prices have surged above $100 per barrel, nearing four-year highs, as flows through the Strait of Hormuz have largely stalled for most countries since the Iran war began over two weeks ago. However, Iran has shipped more than 11 million barrels of oil to China via the strait during this period.
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Trump argued that Beijing should help ensure oil flows through the strait because China receives 90% of its oil via this route, the report said.
However, analysts estimate that China depends on the Strait of Hormuz for only about 40% to 50% of its seaborne oil imports, and note that oil shipments passing through Hormuz represent just 6.6% of China's total energy consumption.
As of January, China held an estimated 1.2 billion barrels of onshore crude stockpiles, among the largest reserves worldwide, sufficient to meet demand for three to four months.
