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How China and the EU Come Out on Top in the US versus Russia and Saudi Arabia Crude Oil Battle
American crude oil for Belarus reached the EU on Friday while the OPEC+ petrostates agreed to extend production cuts for a month on Saturday. Oil prices are likely to stay up till August when the full shut-in capacity of the US shale producers is back online, which will force OPEC+ to drive oil prices lower. Low oil prices will be positive for emerging stock markets but a drag on their leap to a carbon free future. The rich EU will lead the world in a Green Recovery, independent from petro-politics. And China will likely come out on top and take aim to sink the US dollar. www.macroESG.com #macroESG
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By Macro ESGAmerican crude oil for Belarus reached the EU on Friday while the OPEC+ petrostates agreed to extend production cuts for a month on Saturday. Oil prices are likely to stay up till August when the full shut-in capacity of the US shale producers is back online, which will force OPEC+ to drive oil prices lower. Low oil prices will be positive for emerging stock markets but a drag on their leap to a carbon free future. The rich EU will lead the world in a Green Recovery, independent from petro-politics. And China will likely come out on top and take aim to sink the US dollar. www.macroESG.com #macroESG
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Send in a voice message: https://anchor.fm/macro-esg/message