PETROCHINA(SH:601857) Sou Hu Cai Jing·2026-02-04 12:22Core Viewpoint - The article discusses China's strategic decision to halt oil purchases from Venezuela, positioning it as a significant move against U.S. attempts to control global resource pricing and influence [1][3][15]. Group 1: China's Strategic Position - China has refused to participate in a U.S.-led pricing and contract system regarding Venezuelan oil, asserting its independence in energy transactions [3][11]. - The halt in oil purchases is not a sign of dependency but rather reflects China's diversified energy supply channels, including sources from Russia, the Middle East, Africa, and Brazil [6][9]. - China's actions signify a rejection of unilateral pricing mechanisms imposed by the U.S., emphasizing the need for mutual agreement in international energy transactions [12][15]. Group 2: U.S. Response and Implications - The U.S. initially attempted to present its strategy as a "sanction relief + free trade" arrangement, but China's ban revealed the underlying motives of resource manipulation and political leverage [5][11]. - Trump's response to the situation indicates a shift in U.S. strategy, now requiring acceptance of new rules for cooperation [3][12]. - The inability of the U.S. to convert Venezuelan oil resources into marketable assets in China highlights the failure of its strategy to control the energy market [11][13]. Group 3: Future Trends and Global Dynamics - The article suggests a shift towards a multipolar pricing system and a move away from dollar-denominated transactions in global energy markets, with China playing a pivotal role [15][17]. - China's position as the largest energy consumer and clearing center strengthens its influence in determining global energy pricing and rules [17][18]. - The ongoing developments indicate a trend where more countries in South America, Africa, and Eurasia may begin trading under Chinese terms, further diluting U.S. influence [17][18].