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A new era is coming, China has quietly laid out its plans, and the petrodollar is destined to become history. On August 16, local time, spot gold broke through $2,500 per ounce during the session, setting a new record high. At the same time, as the situation in the Middle East eased, the international oil price fell again. On the same day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange fell by $1.51 to close at $76.65 per barrel, a drop of 1.93%.

Over the past year or so, the price of gold has skyrocketed, from $2,000 to $2,500, but the international oil price has fallen from more than $110 a barrel to the current more than $70 a barrel. What is the real reason behind the long-term slump in oil prices?

Some people say that it is because of the shale oil revolution in the United States, which has greatly increased the supply of oil and depressed the international oil price. Some people say that it is because of the EU's price limit on Russian oil that has caused the oil price to be in a slump.

But if we look at the international situation in the past two years, we find that the oil price should not be low. After the outbreak of the Russia-Ukraine conflict, Russia's oil supply to the EU was greatly affected. The EU is experiencing an oil shortage, and the world must be scrambling for oil.