[Inside China Business] Now it’s oil: China, BRICS and OPEC+ build new trading system, locking out US suppliers and banks

🎯 Загружено автоматически через бота: 🚫 Оригинал видео: 📺 Данное видео принадлежит каналу «Inside China Business» (@Inside_China_Business). Оно представлено в нашем сообществе исключительно в информационных, научных, образовательных или культурных целях. Наше сообщество не утверждает никаких прав на данное видео. Пожалуйста, поддержите автора, посетив его оригинальный канал. ✉️ Если у вас есть претензии к авторским правам на данное видео, пожалуйста, свяжитесь с нами по почте support@, и мы немедленно удалим его. 📃 Оригинальное описание: China and Iran developed a comprehensive energy market, involving shadow fleets of tankers and a system of rebranding oil for domestic use, or for further export to other Asian countries. Russia has since joined, after sanctions were placed on oil producers and banks there. The result is a parallel economy that now totals millions of barrels per day in shipments to China by OPEC countries, and a sharp decline in global demand from Western suppliers. The implications for US and European oil suppliers are very negative, as global crude prices are now far below profit breakeven levels. Already, US oil majors are shelving oilfield development projects, and reducing active rig count. Resources and links: Barrons, BP Says Oil Demand Is Falling, While OPEC Says It’s Rising. What Gives? Rigzone, JP Morgan Talks Global Oil Demand S&P, Barclays lowers 2024 Brent oil price forecast to $93/b on demand concerns Oil Prices Poised To Climb in 2024 Amid Geopolitical Uncertainty CNBC, OPEC is highly bullish on long-term oil demand growth. Not everyone agrees NPR, Oil prices plunge as demand from China falls Zerohedge, What Sanctions? China Imports Record Amount Of Iranian Oil The axis of evasion: Behind China’s oil trade with Iran and Russia Oil price charts from and Bloomberg US drillers cut oil and gas rigs for fifth week in six, Baker Hughes says Average WTI price needed for U.S. oil and gas producers to stay profitable by well status in selected U.S. oilfields as of 2024 Capital Expenditure (CapEx) Definition, Formula, and Examples Closing scene, Chengdu, Sichuan province