Tag: Atlantic Council

Xi Calls for Hormuz to Reopen as China Balances Its Gulf Interests

Media Library

China’s top leader, Xi Jinping, called this week for the Strait of Hormuz to reopen, his first such comments since Iran effectively closed the strategic waterway last month in response to U.S.-Israeli attacks on its territory. Mr. Xi made the comments in a call with Crown Prince Mohammed bin Salman of Saudi Arabia on Monday, according to China’s state-run Xinhua news agency. “The Strait of Hormuz should remain open to normal navigation, which is in the common interest of regional countries and the international community,” Mr. Xi told Prince Mohammed,…

OPEC and Russia to Meet as War in Ukraine Roils Oil Market

Chin@Strategy

In the last month, oil markets have been shaken by a war that has sparked a jump in prices and threatened a critical shortfall in crude and other petroleum products. But when most of the world’s largest oil producers meet by teleconference on Thursday to discuss supplies, analysts don’t expect much action. Officials from the Organization of the Petroleum Exporting Countries and Russia are likely to do little more than announce their usual modest monthly production increases, leading to questions about how much oil the group really does have in…