China has no oil
The geopolitical risk premium in oil prices could dissipate very quickly if Russia declares “mission accomplished” with the conquest of Donbas or if the war stalls in the East.Marko Papic
China depends on oil that is shipped to them. Shipped. They have a amateurish navy. If someone blocks Malaca China stops.
Conclusion: I am bullish oil long term because there is no investment and the world needs oil in order not to starve but short term the geopolitical premium in oil is eroding.
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