Canada Readies Response to Trump's Tariffs
Reports indicate that China is diversifying its oil supplies by sealing new deals with Canada and Brazil, aiming to reduce reliance on a single source and strengthen supply security. This move comes as part of China's efforts to stabilize the energy market and meet the growing demand for oil. On another note, the price of oil dropped by 3% last week amid disturbances in the Strait of Hormuz and the impacts of geopolitical developments, while Woodsides Energy company abandoned its green investments and reverted to investing in oil and gas.
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