Donald Trump Needs to Thank China for Never Letting Oil Prices Hit $200 Per Barrel and Smash the US Economy
3 Articles
3 Articles
Donald Trump Needs to Thank China for Never Letting Oil Prices Hit $200 Per Barrel and Smash the US Economy
When the Iran war began, analysts warned oil could reach levels double today's — yet prices only just crossed triple digits. S&P's chief economist says China kind of saved the day: Beijing cut imports to sixteen-year lows and drained a stockpile of over a billion barrels, while the IEA staged its largest-ever release. Now China is bidding again, reserves sit at decades-lows, and no new release is planned.
Oil prices are now approaching the psychologically important 100 dollar mark again. However, before the US and Israel attacked Iran at the end of February, higher oil prices were expected in view of the duration of the crisis. A combination of several factors had led to the oil prices not increasing even further in recent months [...]
Oil prices are now approaching the psychologically important 100 dollar mark again. Nevertheless, before the US and Israel attacked Iran at the end of February, higher oil prices were expected in view of the duration of the crisis. A combination of several factors had led to oil prices not increasing in recent months, said the chief energy economist of the International Energy Agency (IEA), Tim Gould, on Monday.
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