China cut its oil imports in half. No one knows why.
After Iran closed the Strait of Hormuz, China stopped buying about 5 million barrels a day, keeping oil near $100 instead of $200.
When Iran shut down the Strait of Hormuz five months ago, experts predicted oil could spike to $150 or $200 a barrel. It has barely topped $100. According to Rogé Karma, writing in The Atlantic, the reason may be China, which abruptly cut its oil imports by half.
China was already the world'…
