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Pump and circumstance: is China the new OPEC?

The Economist· Aug 12, 2026· 20m 22s

The Iran war triggered the largest supply shock in the history of petroleum, yet prices never rose as high as feared. Our correspondent explains how action taken by China steadied global oil flows. Why Brazil has such strict laws on racist language . And the legendary lager of Laos .  Guests and host: Matthieu Favas, commodities editor Ana Lankes, Brazil bureau chief Vishnu Padmanabhan, Asia correspondent  Rosie Blau, co-host of “The Intelligence” Jason Palmer, co-host of “The Intellig

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Pump and circumstance: is China the new OPEC?

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Sample transcript — click Live captions above to run Whisper on the actual audio in your browser.
  1. Welcome to the program. I'm your host.

    Welcome to the program. I'm your host.

    0:00
  2. Today we look at the major stories shaping the news cycle.

    Today we look at the major stories shaping the news cycle.

    0:04
  3. We start in Europe, where leaders met in Brussels.

    We start in Europe, where leaders met in Brussels.

    0:09
  4. The summit focused on energy policy and migration.

    The summit focused on energy policy and migration.

    0:14
  5. Reporting from the ground, our correspondent has more.

    Reporting from the ground, our correspondent has more.

    0:19
  6. Thank you. The mood here was tense but constructive.

    Thank you. The mood here was tense but constructive.

    0:24