Oil Prices Plummet Worldwide Due to Protests in China Over Controversial Government Decision

Written by Geovane Souza

Published on 28/11/2022 at 10:42

Updated on 28/11/2022 at 10:45

FONTE: Yahoo Finance

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Oil Prices Fall After Thousands of Chinese Citizens Hit the Streets to Protest Against Tightening Restrictions

The price of oil futures fell more than 3% this morning (Monday, February 28), in foreign exchanges. The pressure adds to fears about demand stemming from protests against the Chinese government’s policy. President Xi Jinping intends to implement a zero-tolerance approach to Covid-19.

While most of the rest of the world has relaxed restrictions, President Xi Jinping has assured that China will continue to adhere to its “zero Covid-19 policy”.

An additional day of protests resulted in protesters and police clashing in Shanghai on Sunday night, according to state media reports.

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Chinese Citizens Hit the Streets Against the Tightening Restrictions Imposed by the Government and the Movement Makes Oil Prices Fall

To express their disapproval of the limits imposed by the government, thousands of Chinese citizens took to the streets carrying blank sheets of paper. The tactic is an effort to show dissatisfaction while avoiding breaking the law in the process.

By holding this protest, the Chinese people are reiterating the symbolism of the blank papers that were used in Hong Kong during the protests against the national security legislation implemented in 2020.

The order, enforced by Beijing, introduced a set of sanctions aimed at controlling public demonstrations of dissent against the Communist Party government in the former British territory. These protests occurred in Hong Kong at the time.

The instability occurring in China may complicate the restart of the local economy. Combined with the interest rate hikes implemented by the Federal Reserve, this has led investors to anticipate further weakening in the country’s economy.

Oil Prices Plummet Worldwide Due to Protests in China Over Controversial Government Decision

Oil Prices Fall After Thousands of Chinese Citizens Hit the Streets to Protest Against Tightening Restrictions

Chinese Citizens Hit the Streets Against the Tightening Restrictions Imposed by the Government and the Movement Makes Oil Prices Fall

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China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

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The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

While SpaceX and Boeing compete for billion-dollar NASA contracts, Turkey has begun constructing a spaceport in Somalia to launch rockets near the equator and transform the Horn of Africa’s coastline into a strategic shortcut to reach space by 2028.

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Archaeologists find a vase hidden for 1,200 years on a pilgrimage route with more than 100 jewels of gold, silver, and precious stones.

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Oil Prices Plummet Worldwide Due to Protests in China Over Controversial Government Decision

Oil Prices Fall After Thousands of Chinese Citizens Hit the Streets to Protest Against Tightening Restrictions

Chinese Citizens Hit the Streets Against the Tightening Restrictions Imposed by the Government and the Movement Makes Oil Prices Fall

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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While SpaceX and Boeing compete for billion-dollar NASA contracts, Turkey has begun constructing a spaceport in Somalia to launch rockets near the equator and transform the Horn of Africa’s coastline into a strategic shortcut to reach space by 2028.

Houses erected a few days ago in a preservation area in Santa Catarina are demolished by the city hall, while São José has already totaled 30 demolitions in 2026 and uses drones to contain invasions on risky slopes.

China reduces imports to 6.5 million barrels per day, keeps oil prices below $100, and eases global pressure even with Hormuz closed.

Archaeologists find a vase hidden for 1,200 years on a pilgrimage route with more than 100 jewels of gold, silver, and precious stones.

Almost half a century after the Kola Superdeep stopped at 12,262 meters, China announces that it will drill up to 15 kilometers and wants to be the first country to surpass the Soviet mark that has terrified geologists for 47 years.