> No, it's because oil is still transiting the strait.

This Youtuber did a napkin math to show this effect, plus the land pipeline and other supply increases can't be the sole explanation https://www.youtube.com/watch?v=BkA0bkb6ZO0

There was a sharp decrease in demand too, and China did it without domestic oil shortages

▲ tristanj 11 hours ago | parent [-]

That author greatly overstates China’s role as the single savior and doesn't address the covert fleet of tankers doing daily blockade runs.

He (wrongly) attributes everything to China.

	▲	defrost 9 hours ago \| parent [-]
		> attributes everything to China aside from: `petro-monarchs in Abu Dhabi and Riyadh [...] Ministers in Washington and Tokyo [...] state-led rationing in poorer countries` as listed in the first paragraph.