保油价？以前靠沙特，现在靠中国

Core Viewpoint - The article discusses China's emerging role as a stabilizer in the oil market, taking over from Saudi Arabia, particularly in light of recent OPEC+ decisions to increase production despite a cooling global demand for oil [1][3]. Group 1: China's Role in the Oil Market - China is significantly increasing its crude oil purchases to fill its strategic reserves, which absorbs surplus oil that does not enter global commercial inventories, thus not reflecting in international oil prices [2][3]. - As the largest oil buyer globally, China's actions are currently more effective in supporting oil prices than those of Saudi Arabia, which has historically been seen as the market stabilizer [4]. Group 2: Market Dynamics and Predictions - The traditional belief in the "Saudi put option," where Saudi Arabia would cut production to support prices, has weakened, especially after its recent decision to increase output despite global demand concerns [3][4]. - Analysts predict a severe oversupply in the global oil market from Q4 2023 to 2026, but as long as surplus oil continues to flow into China's strategic reserves, the impact on prices may be mitigated [4]. - A potential risk for the market is if China's willingness to stockpile oil diminishes, which could expose the hidden oversupply and lead to significant downward pressure on oil prices [4].