Calculated at current prices, the value of US crude oil exports In the United States, even if storage capacity increases, crude oil storage capacity utilization will increaseto the United States is approximately $0 billion per month. Although U.S. crude oil products are not included in the list of 545 products subject to tariffs on July 6, once tariffs are actually imposed on U.S. crude oil in the future, this number will drop sharply. Although there is no specific implementation date for the tariff measures on crude oil, many market participants still believe that the possibility of tariffs is very high.
After the United States withdrew from the Iran nuclear agreement, Saudi Arabia issued an official statement stating that Saudi Arabia will continue to work to support the stability of the oil market, bring benefits to producers and consumers, and maintain global economic growth. Saudi Arabia will work with major producers and consumers inside and outside OPEC to alleviate the impact of possible supply shortages.
Trump is expected to travel to Brussels for the NATO summit on July this year, and from there to London. According to senior sources in the British government, Trump may find an appropriate opportunity to meet Putin before or after the visit.
Today, Qatar’s Energy Minister Saad Kabi said at a press conference: Qatar has decided to withdraw from OPEC member countries from January 209. He said that he had informed OPEC of this decision before the press conference.
The Russian oil industry was once infamous for tax manipulation, and reforms are now expected to promote economic growth and increase personal income, which is also part of Russia's fiscal reform. This move will reform the long-standing fee system for supplying crude oil to refineries in Belarus and Kazakhstan. Currently, Russia pays about 40 billion rubles or 2.2 billion US dollars for this every year. The new system is expected to be implemented in the next 6 years.
Research said that the current US sanctions on Iran are essentially hoping to force Iran to abandon its ballistic missile capability and nuclear weapons program.In the United States, even if storage capacity increases, crude oil storage capacity utilization will increase But at present, Iranian officials show no signs of returning to the negotiating table, and this may even become a killer move against Trump.
The current cycle began in February 206. The sharp drop in oil prices previously curbed output growth in the United States and other non-OPEC oil-producing countries and stimulated oil demand, paving the way for the current round of oil price rebound. Voluntary production cuts by OPEC and other oil-exporting countries, coupled with the collapse of Venezuelan oil production, accelerated the recovery of oil prices.
Polischuk told S&P Global Platts analysis: Russia’s budget is heavily dependent on exports, and it is illogical to cut your own earnings. Mikhail, analyst at SherbankCIB
OPEC pointed out that trade tensions, central bank tightening of monetary policies and financial problems in some emerging market countries pose challenges to current global economic growth trends. Monitoring the uncertainty of currency and financial markets is crucial.