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Oil Prices, China Iran Trades, and Blockchain
- The biggest US banks predicted the price of Brent crude oil in 2024 at $90-94.
- BP says that global oil demand will peak next year, then level off and then fall forever after that. OPEC, on the other hand, believes that oil demand is growing and there will be no end to it.
- US investment banks and energy agencies’ forecasts for oil prices and demand in 2024 have become highly inaccurate.
- BRICS countries, including China, import oil from Iran bypassing Western supplies and banking systems.
- JP Morgan underestimated demand by 600,000 barrels per day in the third quarter of 2024.
- The BRICS and OPEC countries are creating a new blockchain-based trading system, which could change global energy markets.
- The OPEC believes that oil demand will grow for another 20 years.
- The BRICS and OPEC countries are bypassing Western banks and Western energy companies. The trading system is slipping out of hands of Western energy producers.
- The adoption of Bitcoin by the US to maintain its economic leadership is making more and more sense.
- Blockchain will change far more than just decentralized finance to a decentralized distributed global economy and politics.
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