U.S. crude oil deposits

U.S. crude oil deposits

Prior to this, Iran threatened to block the Strait of Hormuz, the throat of Middle East crude oil exports due to Trump's restart of sanctU.S. crude oil depositsions. Analysts believe that if Europe fails to come up with a solution before the effective date of US sanctions against Iran on August 6, Iran’s response may not be mild.

Venezuela’s output continues to fall: Venezuela’s output is still declining. At present, about half of Venezuela’s domestic crude oil is developed by foreign crude oil companies. This means that if the United States imposes sanctions on Venezuelan companies, it may speed up foreign investment. The outflow rate further reduces Venezuela's crude oil production.

On June 22, OPEC officially issued a communiqué stating that it would reduce the implementation rate of production cuts to 00%, but did not announce the actual increase in production figures. According to Saudi Energy Minister Falih, OPEC and non-OPEC oil-producing countries will jointly increase production by 0 million barrels per day.

Baker Hughes data shows that the number of crude oil rigs in the United States increased by 2 to 86 in the week ending June 1st, the highest level since 205 months. This is the eighth increase in crude oil rigs in the past 9 weeks.

Since OPEC implemented production cuts, crude oil prices have opened the way to a steady increase. However, just after entering this year, the sudden surge in U.S. oil production disrupted the pace of the entire crude oil market. However, because of this, as the U.S. produces oil madly The behavior of this year began to gradually take over the trend of crude oil this year. If crude oil prices can continue to rise during the beginning of the year, it is because the United States is only expanding production, and OPEC and Russia's production cuts can still cope. However, when the United States began to deploy plans in the Middle East, the direction of the entire oil market seemed to have been in the hands of the United States.

In summary, although U.S. EIA inventories have fallen for four consecutive weeks, there is no sign of shale oil production. International oil prices will usher in a turning point in February next week for non-agricultural and U.S. goverU.S. crude oil depositsnment shutdowns, and oil prices are likely to rise back to $50. , End the downtrend.

Similarly, Kuwait is also the largest crude oil importer in Asia. In April of this year, Kuwait’s crude oil exports were affected, which decreased by 80,000 barrels per day from the monthly average, but its crude oil exports increased by 60,000 barrels per day, which offset the decline in exports to India, Japan and South Korea. Impact.