Deepening of China-Russia energy ties is now inevitable: Bernstein

Neil Beveridge of Bernstein says the conflict in the Middle East will raise the long-term risk premium for oil, and that the winners from this energy shock include the electrification megatrend as well as Russia. He also says China has enough petroleum reserves to last 200-300 days, but its going to be a tough time for the teapot refineries that will need to reduce their utilization rates.