Here’s the translation: --- Sharing a few different perspectives: 1. It’s not just the U.S.—out-of-control oil price hikes are bad news for major consumer countries, manufacturing nations, and U.S. inflation. The conflict between Russia and Ukraine, along with the recent Hormuz Strait blockade, has clearly impacted U.S. inflation and even increased expectations of a U.S. economic recession. High oil prices (gasoline + diesel) lead to rising inflation, and this applies to every country. 2. The UAE exiting OPEC+ doesn’t mean unlimited production. There are capacity limits, export channel restrictions, etc. Based on forecasts, the UAE might gradually increase its daily quota from the previous 3.4 million barrels to over 4.5 million barrels in the future. More importantly, unlimited production isn’t beneficial for oil-producing countries. The best scenario is when oil production slightly exceeds or falls short of global demand. 3. Oil prices aren’t determined by the U.S. dollar. The dollar is just the primary pricing and settlement tool. Oil prices are mainly driven by global market supply and demand. If demand exceeds supply, prices are likely to rise; if demand is less than supply, prices are likely to fall. This explains why oil prices jumped from around $70 to over $90 before and after the Hormuz Strait blockade. 4. If the U.S. restricts energy supply and causes oil prices to rise, the corresponding result will be a boom in renewable energy. If oil prices stay above $200 for a long time, the most direct outcome will be faster global adoption of electric vehicles, energy storage, nuclear power, and natural gas. The IEA predicts that over the next decade, electric vehicles will replace about 5.4 million barrels of daily oil demand. So, long-term high oil prices could actually accelerate the replacement of oil demand. 5. The current high support for WTI mainly comes from the Hormuz blockade, which has disrupted tanker traffic and exports. Once the shipping lanes reopen, oil prices will shift from war premiums back to supply-demand pricing. Not going to dive into other shipping lanes and details here. ---