Laura Tingle
speaker
94 appearances
1 recordings
1 series
first heard Jun 2026
last heard 30 Jun
Laura Tingle’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.
Appearances
Well, a couple of things that are worth noting, not only did it have big reserves, but
China had sort of quietly become the world's biggest refiner of oil at the beginning of this year.
So it actually has this really pivotal role in the supply of refined oil products.
And one of the things that it did immediately, which you can do when you run a control economy, is it just...
slashed purchases of crude oil from the Gulf by 40%.
And that's 4.6 million barrels a day, which is really quite staggering.
And so since it is such a dominant purchaser of oil from the Middle East, that really took a lot of the pressure off.
So it's been a really fascinating picture that's gradually been revealed about that.
That was one of the really key underlying reasons why things weren't as bad
as everybody else went round scrambling for oil wherever they could find it to replace this 20% cut in supply coming out of the Gulf in the first months of the war.
They were, and take little old Australia as an example of that.
I don't know if you remember the Prime Minister saying
doing that trip around the region to places like Brunei and Malaysia, saying, hello, you remember us?
We're really good friends.
Can we have some more of your refined oil?
And suddenly the government, he was saying, oh, we've secured another 100 million barrels or whatever.
And we were doing it from non-traditional markets, the United States, Africa.
We sort of signed these deals with places like Malaysia and Brunei to sort of lock in supply.
And everybody started to do that.
And it had these quite staggering effects.
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