A lot of the oil listed from Malaysia is really from Venezuela. In any case, China's oil demand is coming down fast due to their vehicle fleets going electric. They have been expanding their energy production like gangbusters with nuclear, hydro, solar and in a couple of years more natural gas through the Power of Siberia pipeline.
Yeah, I know. It's bundled together with Iranian and lately some of the Russian oil - sanctioned oil is transferred at sea to "clean" tankers and resold as Malaysian. But considering the relatively low output of Venezuelan oil industry, it's just a drop in the bucket of Chinese demand so I don't expect any backlash coming from them.


