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Dollar Reliance Shrinks — China’s LNG Deal With Qatar Challenges ‘Frenemy’ Status With US
21.6.2023
This week, China and Qatar strengthened their bond through a significant development on Tuesday. China National Petroleum Corporation (CNPC) and Qatarenergy inked a 27-year deal, outlining China’s commitment to procure liquefied natural gas (LNG) from Qatar on an annual basis. Under...
Saudi Arabia and OPEC Reveal Surprise Oil Production Cut; White House Insists Cuts Aren’t Advisable Right Now
3.4.2023
On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of...
China Makes Advances in Ditching the US Dollar for Settlements — Inks Deal With Brazil and Completes First Yuan LNG Purchase
31.3.2023
China has been advancing its goal of positioning the yuan as an alternative to the U.S. dollar for settling international payments. The Chinese government recently struck a bilateral deal with Brazil to settle trades using their national currencies and completed a purchase of Liquefied Natural...