Oil prices surge as China's GDP growth exceeds expectations, while Greenland becomes a focal point due to US tariff threats. The US President's desire to purchase Greenland has sparked a heated debate, with potential tariffs on European nations. This has led to a weakened US dollar, which in turn supports oil prices. The WTI Crude Oil futures are trading modestly higher, influenced by China's robust Q4 2025 GDP data, indicating a resilient oil importer. This positive demand sentiment is further bolstered by China's refinery throughput and crude oil output reaching record highs. However, the situation in Venezuela's oil sector is also attracting attention, with Trump's statement about US control over the industry. Additionally, China is importing more Russian Urals crude than ever before, at prices lower than Iranian oil, despite Western sanctions and an impending EU ban on Russian oil products. These factors collectively contribute to the complex dynamics in the global oil market.
