Is Taiwan The Only Leverage The U.S. Has In Getting China To Toe The Line In Ira
There is always a winner in any major global oil crisis. In 1973/74, it was Saudi Arabia and its OPEC brothers who shifted the balance of power in the market away from the previous arrangement dominated by the West’s ‘Seven Sisters’ to the oil producers of the Middle East. After the 2014-2016 Oil Pr
Source: OilPrice.com
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DW NOTE
The Strait has been effectively closed since July. If oil is down 24% from its one-year high while 1.7 million barrels per day are offline, the market has priced in either a swift resolution or sufficient spare capacity to render Iran's choke-hold irrelevant. Taiwan is leverage only if Beijing believes Washington would act. The price curve suggests no one does.