No Glut in Sight: How China Controls Global Oil Prices - ENB Weekly Recap

In this episode of the Energy Newsbeat Daily Standup - Weekly Recap, Stu Turley and Michael Tanner break down why there’s no real oil glut despite market noise, Chevron CEO Mike Wirth’s bullish long-term stance, and how AI-driven efficiency is reshaping Big Oil. They dive into Sweden’s pension fund disaster after chasing risky net-zero bets, why micro-nuclear reactors may be the sleeper investment of the decade, and Enbridge’s major pipeline expansion boosting Canadian crude flows. The episode also covers China and India’s role in setting the floor and ceiling for global oil prices, the hidden machinery behind Russia’s “dark fleet,” and why sanctions aren’t stopping crude from moving—just rerouting it. A fast, sharp look at the forces shaping 2025’s energy markets.

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https://www.linkedin.com/in/stuturley/ and

Twitter: https://twitter.com/STUARTTURLEY16

Follow Michael On LinkedIn: https://www.linkedin.com/in/michaelta... and

Twitter: https://twitter.com/mtanner_1

Timestamps:

00:00 - Intro

00:22 - Mike Wirth, Chevron CEO, Believes in the Future of Oil, Gas, and Chevron

03:46 - Sweden’s Pension Funds Face Eye-Watering Losses After Investing Heavily in Net Zero Projects

07:17 - Enbridge Updating Expansion Plans to its Mainline and Flanagan South Systems to Export Canadian Oil

11:01 - $1 Billion Loan from the DOE to Restart Three Mile Island: A Boost for American Energy Security

12:49 - China Sets the Floor and Ceiling for Global Oil Prices

15:45 - Why China and India Continue Buying Russian Oil?

18:25 - Outro

Links to articles discussed:

Mike Wirth, Chevron CEO, Believes in the Future of Oil, Gas, and Chevron

Sweden’s Pension Funds Face Eye-Watering Losses After Investing Heavily in Net Zero Projects

Enbridge Updating Expansion Plans to its Mainline and Flanagan South Systems to Export Canadian Oil

$1 Billion Loan from the DOE to Restart Three Mile Island: A Boost for American Energy Security

China Sets the Floor and Ceiling for Global Oil Prices

Why China and India Continue Buying Russian Oil?