On July 16, the “2026 Sina Global Capital Summit” hosted by Sina Finance was held in Hong Kong, China. Xing Ziqiang, chief economist at Morgan Stanley, attended and delivered the keynote address. Xing Ziqiang shared a set of vivid international comparisons at the summit: the US-Iran war triggered a global energy crisis in the past five months, and the US continued to use strategic oil reserves, and stocks have fallen to their lowest level in 43 years; in Europe, due to lack of refrigeration equipment, less than one-fifth of households have air conditioning and can only “endure the heat.” Xing Ziqiang shared that since the rise in oil prices in the US-Iran war, it was discovered that each country handled the rise in oil prices in a completely different path. The US relied on its own oil production and gas production and some previous strategic inventories, and continued to make money by using inventory consumption and even exports. However, it can now be seen that America's strategic reserves of crude oil have dropped to only 320 million barrels. This is the lowest point in 43 years. That is, over the past 5 months, it has been continuously removing inventory, getting closer and closer to a low level.

On July 16, the “2026 Sina Global Capital Summit” hosted by Sina Finance was held in Hong Kong, China. Xing Ziqiang, chief economist at Morgan Stanley, attended and delivered the keynote address. Xing Ziqiang shared a set of vivid international comparisons at the summit: the US-Iran war triggered a global energy crisis in the past five months, and the US continued to use strategic oil reserves, and stocks have fallen to their lowest level in 43 years; in Europe, due to lack of refrigeration equipment, less than one-fifth of households have air conditioning and can only “endure the heat.” Xing Ziqiang shared that since the rise in oil prices in the US-Iran war, it was discovered that each country handled the rise in oil prices in a completely different path. The US relied on its own oil production and gas production and some previous strategic inventories, and continued to make money by using inventory consumption and even exports. However, it can now be seen that America's strategic reserves of crude oil have dropped to only 320 million barrels. This is the lowest point in 43 years. That is, over the past 5 months, it has been continuously removing inventory, getting closer and closer to a low level.