EU Talks Stall Over Russian Oil Price Cap

The video discusses the proposed price cap on Russian oil, set between $65 and $70 per barrel, and its potential impact on the market. Despite the cap, Russia's oil is already sold at a discount, so the cap may not significantly affect prices. The discussion shifts to demand factors, highlighting weak demand in China, Europe, and the US. OPEC's decision to cut production by 2 million barrels a day is also covered, with a focus on its impact on market positioning and the bearish sentiment in WTI futures.

How has the demand for oil changed in China compared to last year?

What action did OPEC plus take recently regarding oil production?