From the article: "China was able to reduce imports so sharply in part because it had been buying more oil than it needed before the war. For years, it accumulated inventories whenever prices were low as part of a broader push to strengthen national self-reliance and improve its ability to withstand supply disruptions."
The article goes on to describe how China has managed both their stockpiles of crude oil and refined products to their advantage.
Contrast that with the members of the International Energy Agency, who have to date released 200 barrels of crude oil from their reserves.
Iran can open and close the Strait of Hormuz whenever they want. This gives them considerable leverage in the negotiations with the US. Trump doesn't want another spike in gas prices, so Iran has him over the proverbial barrel of oil. Meanwhile Trump continues to draw down the US Strategic Reserve of Oil, which gives Iran more leverage.
The Mid Terms are a-comin' and Don the Con knows it. The longer gas prices stay high, his approval ratings will stay low. And if the Democrats manage to gain a majority in one house of Congress, then they'll roll out the subpoenas and turn up the heat.