Crude oil spot price ratio

Crude oil spot price ratio

Warm reminder from China Petroleum Finance Network: At 4:00 am on Wednesday, April 25, Beijing timCrude oil spot price ratioe, the US API crude oil inventory will be announced. The previous value will be reduced by 0.7 million barrels. During the oil price war, the direction of API inventory announcement will directly affect crude oil prices. Market outlook.

Service just lowered India’s 208 GDP growth forecast by 0.2%, blaming it on high oil prices, and warned that if the current high oil prices continue, global consumer spending may fall and inflation will rise. .

According to people familiar with the matter, the actual output level of Saudi Arabia in July will depend on the overall demand in the oil market and Saudi domestic demand. The final output is expected to reach between 0.6 million barrels per day and 0 million barrels per day. Among them, a factor that cannot be ignored is that during the summer, Saudi Arabia needs to use the original to generate electricity for air conditioning, so its domestic demand has surged.

After US President Donald Trump announced that the United States would withdraw from the 205 nuclear agreement with Iran and resume punitive sanctions on the country, oil prices hit a record high in many years. Iran is OPEC's third largest oil producer.

After the United States sanctions Iran and Venezuela, the market crisis triggered by OPEC has attracted attention. However, it is surprising that Asian buyers have reduced OPEC crude oil imports and turned their attention to cheaper U.S. crude oil, which may make OPEC expect high The oil price dream is broken?

As the United States is currently the largest Asian crude oil buyer, the direct rCrude oil spot price ratioesult of the Sino-US trade war is that it may seek to obtain crude oil from other countries, including African light crude oil producers such as Nigeria, Angola and Algeria.

Trump urged his team to consider attacking Russian and Iranian facilities in Syria if it is necessary to find the military equipment of the Assad regime. However, Mattis opposed this and warned that a larger attack might be Attracted dangerous responses from Russia and Iran.

In addition to the possible US sanctions crisis that Iran may face, Venezuela’s average daily crude oil output has fallen by 500,000 barrels as of May this year; Libya’s average daily output in June has also fallen by 450,000 barrels due to the attack on the terminal; in addition, due to transformers Failure, the Canadian oil sands are facing a shortfall of 60,000 barrels per day, and this shortfall may not be able to be made up until July, thus dragging down the supply of crude oil in the Cushing area of ​​the United States.