Yes but the trend has changed. Oil demand was growing largely due to China. That has stagnated massively. The change is trend of demand links with a change in the supply from Russia. I’m not on expert on these matters and I don’t want to come across like that.

But it seems if China didn’t stop increasing we would have had price issues.

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With dropping oil prices American firms won’t want to drill. Also imports of materials has gone up and China has stopped buying American LNG.