China holds the cards in US-EU poker
As the US shale industry struggles, energy sanctions targeting China are unlikely
Energy’s geopolitical and geo-economic importance means it is always at risk of becoming a pawn in wider strategic conflict. The standoff between Beijing, Washington and much of Europe—complicated by China’s ongoing crackdown on civil liberties in Hong Kong—is no different. Few pundits see a quick way out of a deepening conflict that encompasses several major issues including the coronavirus pandemic—for which many across the world blame China, either through genuine analysis of the transparency of Beijing’s handling of the outbreak, or because of convenient, populist blame-mongering—trade and digital spying. As Petroleum Economist went to press, the US and China introduced mutual visa restr
Also in this section
29 April 2026
Trafigura’s $1b prepayment agreement confirms African resource holders’ renewed interest in oil-backed financing deals as they look to capitalise on high oil prices
29 April 2026
The UAE’s departure from the oil producers’ group was a surprise to many, but the move can be traced back to a single point five years ago
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
