Chinese Oil Demand Is Dropping, Says Daniel Yergin

The video discusses the impact of the coronavirus on global oil demand, highlighting a significant decline in Chinese oil consumption and its ripple effects on global commodity prices. It also examines the role of OPEC and Russia in managing oil supply, with Russia hesitant to cut supplies due to concerns about benefiting the US market. The discussion underscores the uncertainty in the oil market and the potential for a de facto decoupling of China from the global economy.

What are the implications of Russia's position on oil supply cuts?

In what ways might the current oil market situation impact the US?