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VeriSign (VRSN) Q3 2026 Earnings Call Transcript

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Rising Crude Oil Imports Reduce China’s Need to Draw from Stocks

China has relied on its huge crude oil inventories since the Iran war hiked oil prices to above $100 per barrel. The world’s biggest crude importer has drawn from its 1.3-billion-barrel stash for most…

  • China reduced crude imports by 4.4 million bpd in June, a decade low.
  • In August and September, China drew about 530,000 bpd from reserves.
  • As oil prices rise in October, reliance on stockpile is expected to decrease.

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