Posted by Tobby > 2022-09-07 16:24 | Report Abuse

Forget the dumbass EU! They set themselves on fire due to their own dumbass leaders!
Russia now export half of their oil to China! So why do China need to buy using US dollar! Basically, we are getting false demand equation!
Why EU are desperately importing oil and gas using US dollar at very high price! China and India are getting their oil at discount from Russia bypassing petrodollar!

Posted by Tobby > 2022-09-07 16:25 | Report Abuse

Beside, more and more EV cars are on the road today compare to few years ago! Maybe 30% of cars in developed countries already EVs! And demand for ICE cars are slowly declining!