China’s independent refiners in Shandong province have been depleting their regional oil stockpiles, a trend that could prompt these refineries to increase purchases of crude from Iran.

With global supply disruptions and sanctions limiting Iranian exports, the shrinking inventory in China creates a market gap. Iranian crude, already facing slow sales, may find a new buyer in the Chinese market, boosting Tehran’s revenue.

Analysts note that China’s demand is driven by domestic refinery output and the need to maintain production levels. The shift toward Iranian oil would diversify China’s supply mix and help Iran mitigate export challenges.

While the volume of new purchases remains uncertain, the possibility signals a strategic adjustment in both countries’ oil strategies and reflects broader shifts in regional energy dynamics.