Commenting on China’s crude oil supply, SMU Associate Professor of Finance Fu Fangjian pointed out that the sharp fluctuations in international oil prices mainly stemmed from speculation in the financial markets. He predicted that the obstruction at the Strait of Hormuz would have a limited impact on the real economy, and there would be no oil shortage for at least a few months. Assoc Prof Fu added that everyone has some oil reserves, and China should be able to last at least six months to a year with its reserves.
