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So is the oil crisis cooled or is everyone trying to ignore it. (hexbear.net)

submitted 4 days ago* (last edited 4 days ago) by Athena5898@hexbear.net to c/askchapo@hexbear.net

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I can't for the life of me figure out the oil shit at this point. It feels inevitable that prices will go up more before the end of the year but America keeps doing this will they won't they thing with bombs.

Edit: thank you everyone for your response!

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[–] kristina@hexbear.net 31 points 4 days ago (2 children)

china flushed the world market with reserve oil and saved markets from a melt down. why they did this is anyones guess but im sure it just gave them a ton of soft power

[–] CommCat@hexbear.net 4 points 4 days ago

China's foreign policy (outside of Taiwan) is strictly a mercantile one, it needs stability in the world markets, and it will never upset its buyers. If the IRI falls, China will happily do business with the new US puppet government.

[–] casskaydee@hexbear.net 3 points 4 days ago (1 children)

Yeah I can't imagine why China would want to prevent a global financial crisis

[–] kristina@hexbear.net 4 points 4 days ago

I get it but it also kinda makes sense to hold on to the oil to power their domestic industry