Oil Prices Plunge as China Fails to Deliver New Stimulus

October 30, 2024/in /by Rudolf Huber

At least since the COVID debacle, we should have been on to something. Something is very rotten in the Middle Kingdom and it’s not only its politics. And it had been rotten for many years, I would argue decades. The Chinese Business Model reminds me very much of a giant Ponzi scheme. At least since Xi launched his Belt and Road initiative before COVID. It always reeked of money printing to lend it to some poor nations that in turn will spend it on stuff China builds for them. Keeps the armies of workers working and not demonstrating. It’s like having a home business and being your own customer. China will transform into a financial black hole.

Oil prices fell sharply after China's National Development and Reform Commission ended a briefing without new stimulus measures, disappointing investors and triggering a market-wide selloff.

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I met Rudolf at the beginning of 2011, since we were both involved and working together within several European / Scandinavian projects for the development of technology, standardisation and legal aspect in the use of LNG as marine fuel and along its supply chain. Rudolf has vast expertise in, and perspective on, different aspects of LNG technologies, suppliers, infrastructures and supply chain options. He is able to provide a deep understanding and insight into these areas and is a conscientious and diligent source. Moreover, he is a tremendous visionary on the geopolitical, trading and technology aspects of energy, with a special remark for LNG traditional and small / mid magnitude chain. Rudolf has very proactive personal and working approach and is an excellent team worker and leader. Not least, he has a unique persuasive way of writing, negotiating and delivering speeches. I would certainly recommend him as an excellent expert and believe he would be a powerful asset for any company actively working in Oil and Gas. Thank you Rudolf! Marco

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I worked with Rudi on a key Europe-Middle East LNG supply chain transaction. He is incredibly driven and pushed the deal forward under very challenging internal and external circumstances. He is culturally astute and was able to navigate very successfully through the various subtleties within the global energy community. Also a great guy to work with!

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