New Mexico crude oil analysis

New Mexico crude oil analysis

Demeter stated in Davos that if you want to crush U.S. shale oil, the international oil price must be below US$40/barrel, but this is also not conducive to theNew Mexico crude oil analysis healthy development of the Russian economy, so Russia cannot hurt the enemy by a thousand dollars. Eight hundred.

Judging from yesterday’s news, although the turmoil of the Iranian nuclear agreement has brought long support to the crude oil market, the sharp drop in the US dollar has further benefited oil prices, and the crude oil market has not seen a significant rise. This may be understood as The market has gradually digested the Iranian nuclear turmoil, and the rise in crude oil may be about to come to an end. If there is still no significant market change in crude oil on Friday, the market should be alert to the high price pullback next week, and the market is likely to step back on the 70 mark.

Novak said that the production reduction agreement will be maintained until the end of 208, and that quotas will also be discussed in June this year. But from a market perspective, this is just a stopgap measure. He further expressed that after the US sanctions on Iran took effect, why did Saudi Arabia become the only country that could use the decline in Iran’s supply to increase production?

al-Mazroui told reporters: This is not a problem we are worried about now. He said: At the next OPEC meeting, we are concerned about the appropriate inventory levels that can be achieved and how to make OPEC unite longer.

Gasoline inventories surged by 20,000 barrels, and analysts expect a decrease of 500,000 barrels. At the same time, refined oil inventories increased by 750,000 barrels, and analysts estimated a decrease of 70,000 barrels. More data show that last week US crude oil imports fell by 20,000 barrels per day to 800,000 barrels per day.

Volgao also believes that in addition to geopolitics, the reduction in crude oil production is also one of the driving forces for rising oil prices. Since last year, OPEC countries and other major oil-producing countries like Russia have cut average daily crude oil production by 800,000 barrels. This is the main period when oil prices and the US dollar do not have a negative relationship. And Malik, an oil analyst at JPMorgan Chase, pointed out that demand for crude oil decoupled from the US dollar is rapidly expanding. This inNew Mexico crude oil analysis turn helps to decouple crude oil from the US dollar.