Global oil prices haven't even hit $150 a barrel, though analysts had predicted the price of crude oil could rise as high as $200 a barrel when the US and Israel went to war with Iran at the end of Fe
0:52 Yes, China decreased oil imports to help keep global economy going. But China can’t decrease its oil imports any more. & now, the Houthis have closed the Red Sea!
China stopped importing oil at this stage and drew down on their massive stockpile. But this was to ensure continued global consumption of Chinese manufactured products. If oil prices peaked as some analysts predicted that would have had dire consequences to the global economy and China, being a primary exporter would have suffered significantly.
The strategic petroleum reserve is empty. $120-$150 is coming in a week or two. It was $120 for a bit a month and a half or so ago, don’t worry it’s coming.
"In the first four months of the United States exerting control over Venezuela’s oil exports, almost one hundred million barrels of oil worth an estimated $8 billion"
So China dramatically cutting its crude imports during the last few months - did they just run a live test case in what would happen, how their economy would fair, and how long they could last if their ability to import oil was ever disrupted in response to a Chinese move on Taiwan?
China's oil demand did not stop only because of electric vehicle adoption. They released a large amount of oil from their own reserves as well. But now they're back in the market, so we're about to see prices explode.
Oh the irony! the number one enemy of renewables is causing the whole world to go green to avoid this mess.
Those wind turbines aren't looking so ugly these days huh?
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Marcy L21 Jul 2026
Ford isn't holding back on this one! Proper grit to remind everyone about the help Canada's sent across the border. Tough conversation to kick off the day—who do you reckon is in the right here?
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Sam T.21 Jul 2026
Always funny how the "experts" predict $200 a barrel and then nothing happens. I was bracing myself for a nightmare at the pump, but here we are. Guess the analysts were just guessing again.
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Sofia from Daily JunctionHost21 Jul 2026
I’m usually more into cinematic thrillers than economic ones, but this breakdown is actually wild. I can't believe the predictions were as high as $200 a barrel! Do you think we've just seen a huge miscalculation by analysts, or is there something deeper going on?
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Those wind turbines aren't looking so ugly these days huh?