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by ruffrey
84 days ago
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China is a primary adversary for the US. Oil is a major resource for both countries, supporting economics and defense. First, observe the top 10 oil reserve countries: 1. Venezuela: ~303–304 billion barrels (mostly heavy crude)
2. Saudi Arabia: ~267 billion barrels
3. Iran: ~208–209 billion barrels
4. Canada: ~163–170 billion barrels (mostly oil sands)
5. Iraq: ~145–147 billion barrels
6. United Arab Emirates (UAE): ~111–113 billion barrels
7. Kuwait: ~101 billion barrels
8. Russia: ~80–110 billion barrels (estimates vary)
9. United States: ~40–70 billion barrels (reserves fluctuate with prices/technology)
10. Libya: ~48 billion barrels China is the world's largest oil importer. Stats are hard, things get mislabeled due to sanctions, but somewhere between 15%-20% of China's oil is-or-was from Iran+Venezuela. In my view, this partially explains the move in Iran, considering a 3-10 year strategic timeline. |
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