OPEC+ Loses Oil Market Sway to China as Iran War Reshapes Energy Order
🛢️ OPEC+ — The cartel that survived shale is losing to a war it didn't start. 📌 LOOK CLOSER: Six months of Hormuz disruption has restructured the oil order OPEC+ spent decades building. China absorbs sanctioned Iranian crude at steep discounts, bypassing cartel pricing entirely. Gulf members can't fill the gap without angering Washington; they can't cut without ceding more share to Beijing. The cartel's relevance erodes with every week Hormuz stays choked.
