How China and U.S. eased the Middle East oil shock and kept prices from spiking even higher

AI Summary

China and the U.S. have collaborated to manage the Middle East oil market and prevent prices from escalating significantly. Their joint efforts have proven instrumental in reducing the risks associated with oil supply shortages.

China and the U.S., the world's two largest economies, wield great influence over the oil market and are using it to help plug the supply gap.