Iran war shows China role in setting the price of oil
Data: China's General Administration of Customs; Chart: Matt Phillips/AxiosThe Iran war has revealed China's enormous power over global oil prices, thanks to its position as the world's largest buyer. Why it matters: China's reaction to the oil shock — by substantially withdrawing from buying on wor
<p>Data: China's General Administration of Customs; Chart: Matt Phillips/AxiosThe Iran war has revealed China's enormous power over global oil prices, thanks to its position as the world's largest buyer. Why it matters: China's reaction to the oil shock — by substantially withdrawing from buying on wor</p>