Legislators originally hoped toBloomberg crude oil prices introduce a trillion-dollar comprehensive spending bill before the end of Tuesday, local time, to maintain federal government funding until the end of September this fiscal year. But the two parties in Congress still diverge over immigration, border security, gun control, tax relief, and the railroad tunnel on the Hudson River between New York and New Jersey. Negotiations between the House of Representatives and the Senate continued on Wednesday.
In addition, the situation in Venezuela also affects the nerves of the market. Venezuela’s severe domestic economic crisis has led to a continuous decline in output, which has also left the country's crude oil industry in a state of extreme shortage of personnel, electricity and water. At present, the crude oil output of Venezuelan joint ventures has begun to exceed the domestic output, which has gradually deepened Venezuela's external dependence. As more and more companies withdraw from the Venezuelan market, Venezuela's output may further decline.
At the end of this year, Special Counsel Mueller asked Trump about the decision to fire former FBI Director Comey and former national security adviser Flynn, which caused the dollar to fall below the $90 mark. Even though Trump congratulated Putin on his re-election as president in December, the sensitive relationship between the two countries prevented Trump from having an official meeting with Putin.
OPEC’s second largest oil producer Iraq and the third largest oil producer Iran have both expressed their opposition to a substantial increase in production, which would violate the agreement to maintain production cuts before the end of the year. Both countries have difficulty increasing production significantly because Iran is facing re-sanctions by the United States that will affect its oil industry, and Iraq still has output restrictions.
Oil demand has fallen sharply. OPEC’s monthly report released on the evening of the month stated that the growth rate of global crude oil demand in 209 was 290,000 barrels per day, which was a decrease of 70,000 barrels per day from the previous month’s report. This is the fourth consecutive month that OPEC has adjusted downwards for 209 years. Crude oil demand growth rate.
According to sources, Saudi Arabia’s August crude oil production was 0.47 million barrels per day, higher than July’s 0.8 million barrBloomberg crude oil pricesels per day. Due to changes in crude oil inventories, production statistics may differ. The increase in production is mainly to meet customer demand and to follow the changes in OPEC's production reduction plan.
Looking back 45 years ago, Canada was one of the targets of the Saudi Arabian oil embargo in 1997. At that time, the introduction of the oil embargo, coupled with the subsequent four-fold increase in global oil prices, caught Canada by surprise.