The Kharg oil terminal at Iran’s Kharg Island in the Persian Gulf. The US government’s reimposed sanctions, announced earlier this month, also included waivers for eight nations, including China. Photo: EPA-EFE
Neal Kimberley
Opinion

Opinion

Macroscope by Neal Kimberley

Don’t blame China’s slowing demand for the fall in oil prices. Instead, look to US sanctions (and waivers) on Iran

  • Neal Kimberley says lower prospects for the Chinese economy did not directly cause the recent drop in oil prices
  • However, US waivers on its new Iran sanctions for China (and others) signalled the collapse of a central pillar of support, leading to fear in the market

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The Kharg oil terminal at Iran’s Kharg Island in the Persian Gulf. The US government’s reimposed sanctions, announced earlier this month, also included waivers for eight nations, including China. Photo: EPA-EFE
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