China’s yuan-denominated crude futures benchmark is expected to launch this year, and it has the potential shake up global oil markets and chip away at the dollar’s supremacy, says Matt Piotrowski, senior editor for The Fuse. Piotrowski talks to Platts Capitol Crude: The U.S. Oil Policy Podcast about China’s motivations behind the crude contract, what its chances are for success, and why it matters for U.S. consumers and American energy security. Listen to the podcast here.
Here is our previous coverage of China’s attempts to establish a benchmark:
China’s Crude Benchmark Key in Developing the Yuan’s Power
Reserve-Currency Status for Yuan to Boost China’s Clout in Global Economy, Oil Markets
What Does China’s Status as Largest Oil Importer Mean for U.S. Interests?
China’s Crude Benchmark Delayed, Still on Track to Take Off
China’s Currency on Track to Challenge the U.S. Dollar in Oil Markets
China’s New Crude Benchmark Will Flourish, Undermining Brent and WTI