The David Lin Report · Wednesday, September 2, 2026
Despite rising prices, China's refiners are increasing their oil purchases due to concerns about potential shortages. Combined with low global inventory levels and insufficient drilling activity, this demand from China is seen as a strong factor pushing oil prices higher, according to Josh Young.
“I think China wants oil prices higher. We've seen Chinese refiners and other Asian refiners start to buy more oil. I think they're worried about what you mentioned about running out of oil and so they've been buying more of it than they were. Even as prices are rising, they've been buyers less price sensitive than people expected.”
“And then Arian, you know, if you tell everyone that you care about something a lot repeatedly on international television, they listen. And if you tweet about it or post on truth social over and over again about one thing, they listen. And if they can control it and they don't like you and they want you to lose, then they're going to try to impact it.”
“So, I think I think unfortunately um this war is not going great and it may continue and I think there's a lot of folks that are aligned to try to push oil prices a lot higher and inventory levels are low and there's not been enough drilling activity both in the Persian Gulf and sort of broadly to offset this. So, I think I think unfortunately we're set higher.”