Generate

Axios Generate

China stockpiled huge amounts of oil before Iran war

National

A bar chart that compares estimated strategic crude oil reserves in select countries as of December 2025. China holds 1.397 billion barrels, far above the United States at 413 million and Japan at 263 million. India has the smallest reserve shown at 21 million barrels.

Barrels of strategic crude oil reserves in select countries

Data: U.S. Energy Information Administration; Chart: Amy Harder/Axios

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