A lot of Iranian oil goes to China's so-called "teapot" refineries, which tend to be smaller and owned by independent companies. On this episode of the Odd Lots podcast, Erica Downs, a senior research scholar at Columbia University, joins Joe Weisenthal and Tracy Alloway to discuss the buffer oil stock that China has built over the years and why it could ultimately play to the country's advantage. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on