China stockpiled huge amounts of oil before Iran war

Data: U.S. Energy Information Administration; Chart: Amy Harder/AxiosChina has stashed away far more oil than any other country, according to U.S. government data released this week.Why it matters: The stockpile, which surged last year, is emerging as a strategic advantage as the world faces an oil shock with the Strait of Hormuz largely shut.The big picture: China is a huge winner in the Iran war due in large part to its positioning on energy, including its oil stockpile.It also owns over 70% o...