... Ocean (ESPO) pipeline,
became a key oil supplier
to China. Despite the ongoing calls for an output freeze, Saudi Arabia and its OPEC partners have been offering generous discounts to Asian and European customers, which
pits them squarely against Russia on these markets
.
Investments and joint projects
Oil-and-gas cooperation is also possible in the form of investments and technology exchange. Yet this format does not fit the bill in ...
... nor that they are immoral (as it is trendy to bicker online), as in reality they have little choice and China anxiously needs oil as the memory of early 2000s energy famish is still fresh. Basically, China cannot trade with OPEC smoothly as it does not give special treatment via some sort of guaranteed quotas and rivalry is fierce from traditional ... ... they sounds. Yergin (2011: 204-205) described the attempt well by saying that it was like – throwing a lit match into a gas filled room on top of Capitol Hill, as it instantly flamed a debate over energy security. So to put it crudely China is not ...
... production of crude oil. Yet, we see prices trading at around $90-100 per barrel. If we compare this historically, the last time OPEC had such capacity; prices were at around $30 per barrel. As it seems, the golden era of stable prices for oil has long ended ($10-20 per barrel consistently from 1874 to 1974), just quite how much volatility we will experience now, ... ... relatively recently let in another industry into the global casino with little gambling limits and about to invite its friend (gas).
P.S. while writing this post I was considering doing a mirror post for oil's alternative, natural gas, ...
