CNN Fareed Zakaria GPS June 4, 2024 17:32:00
Europe wasn't consuming could be fed back into other markets and that ultimately there would be some kind of rebalancing or reshuffling of the whole global system. that's in theory. in practice i think it would be a lot harder, although certainly some of that oil would make its way back into the system, most likely through china. china is really the key here if we're asking about what happens to the oil market. it depends on how much china takes. china has the ability to take a lot of that, let's say a substantial portion, the majority of that 4.5 million barrels of oil that europe might not t...
Source: archive.org
