Which gas station company uses all U.S. crude oil

Which gas station company uses all U.S. crude oil

The first focus on Tuesday was EIA's short-term energy outlook. It is estimated that OPEC's crude oil production in 208 will average 200,000 barrels per day, and the average production in 209 will be slightly higher than 200,000 barrels per day. The EIA made its predictions before the outbreak of Libya this month, soWhich gas station company uses all U.S. crude oil in the latest update, traders may be concerned about any changes in these expectations. EIA emphasized that despite the declining production in Venezuela and Iran, production in 209 will still increase.

Sinopec said that in terms of exploration and development, the company will adhere to efficient exploration and profitable development of oil and gas, and continue to promote cost reductions; in terms of oil refining, it will rationally arrange production according to market demand to consolidate its dominant position in oil refining; in terms of marketing and distribution, it will adhere to volume In terms of chemical industry, we will continue to deepen the adjustment of raw material structure, continuously improve the raw material structure, and reduce the cost of raw materials.

Crude oil has continued to rise recently. Due to speculation that continues to heat up, it is hoped that OPEC will discuss the possibility of limiting production in the next meeting of the member states. Russia also joined, expressing an open attitude towards such talks, ANZ said.

This time Powell’s speech greatly boosted the Fed’s future interest rate hike expectations, even rising from once to four times, which means that the Fed will raise interest rates in June, June, September, and February. After Powell’s speech, the dollar ushered in. A wave of rising prices, although this can be regarded as a rebound of the US dollar, it is still uncertain whether the US dollar index will get rid of the downward trend. If it is really because of Powell’s speech that started the continuous rebound of the US dollar, then the market outlook for the US dollar The rise of the index will exert continuous pressure on crude oil. Last year, Yellen raised interest rates three times but failed to change the decline of the US dollar. Whether Powell can do this this year remains to be seen.

Previously, Jeffrey Currie, chief commodity strategist at Goldman Sachs, predicted that global storage capacity may reach its limit in the next -4 weeks, and at least 20% of global oil production capacity must be shut down to achieve a balance of supply and demand in the short term, otherwise the next crisis will come. At this time, the range of market volatility may be wider.

Hatfield said that if sanctions are reintroduced, oil prices may rise by $5 to $0. Nonetheless, Hatfield predicts that the shortfall in crude oil supply will be made up by the high production caused by high oil prices, especially the production of shale oil in the United States and some other oil-producing countries. In the case of high oil prices, OPEC members also have more incentives to deceive or consider increasing production quotas. These potWhich gas station company uses all U.S. crude oilential factors will hinder the rise of oil prices.

Although the current crude oil production in the United States continues to rise, the country's oil infrastructure construction is far from keeping up with oil production. The United States lacks sufficient oil pipeline capacity to transport oil to ports for export; on the other hand, the US oil shipping ports cannot withstand the ever-increasing oil load. U.S. Energy Information

The demand for crude oil in Asia fell in the first half of the month, but the seasonal maintenance of refineries was also coming to an end. At the same time, crude oil production and crude oil inventories in the United States also reached new highs, which put pressure on oil prices. But with the upcoming peak driving period and the International Energy Agency predicts that crude oil demand will rise further. Therefore, volatility will be a characteristic of the market for some time to come.

Earlier, due to the United States imposed sanctions on Iran and Venezuela's continuous decline in output, crude oil rose to a high of a year and a half. However, as Saudi Arabia and Russia announced that they would consider raising the production ceiling, oil prices have fallen sharply since last week.