At present, as the economic and trade situation between the two sides eases, US crude oil is tentatively entering. According to ship tracking data compiled by Reuters, three tankers carrying 940,000 barrels of crude oil are heading from the United States and will arrive in February. It is expected that buyers willInternational crude oil price per barrel only import a small amount of US crude oil, after all, the economic and trade situation between the two sides is still in a period of correction.
OPEC and Russia will hold talks in Vienna from June 22 to 2, at which time they will discuss whether to adjust the current production reduction agreement. Sources previously revealed that the organization is considering working with Russia to increase production by about 0 million barrels per day to fill the crude oil supply gaps in Iran and Venezuela.
The International Energy Agency's IEA released the latest monthly report showing that monthly global crude oil supply fell by 20,000 barrels to 97.8 million barrels per day, as the OPEC production decline offset the increase in US production. Crude oil inventories in OECD member countries fell by 26 million barrels to 2.4 billion barrels in February, a gap of 10 million barrels from the 5-year average. However, this has made significant progress. The IEA said that if the current decline rate can be maintained, Global crude oil inventories are expected to fall back to the 5-year average as early as May. At the same time, refinery product inventories have fallen below the 5-year moving average.
According to a person familiar with the matter, Petrochemical, the largest refiner, will delay the purchase of US crude oil because the escalating trade war may make US imports more expensive. US President Donald Trump instructs Robert Lighthizer, US Trade Representative
Sources said that OPEC’s extension of production cuts is very probable. This issue may be discussed at the April meeting, even if Saudi Arabia declares that no decision will be made at this meeting, everything still needs to wait for the formal policy meeting in June.
And Saudi Arabia has announced the establishment of a nuclear power plant and has launched a uranium exploration program. Saudi Arabia once hoped to get the help of the United States to build a nuclear power plant, but recently stated that if it does not get the help of the United States, it will seek the help of other international partnersInternational crude oil price per barrel, such as Russia and Russia.
The most actively traded September Brent crude oil futures closed up $0.48 on Wednesday at $724 per barrel. US WTI crude oil futures closed up 0.9 US dollars, at 7 US dollars per barrel, within a three-and-a-half-year high of 75 US dollars touched on Tuesday. Since today is the US Independence Day holiday, there will be no settlement price in the US market.
Before the arrival of June 28, international oil prices are likely to rise to $55 to expand the last round of refined oil price adjustments before the Spring Festival. According to Zhuochuang's calculations, as of the 5th working day of the current round of price adjustments, the rate of change in crude oil was 6%, corresponding to an increase in refined oil prices by 25 yuan per ton, which translates into an increase in 92 gasoline prices by 0.9 yuan per liter. Taking a 50L private car as an example, a full tank of gas will cost 9 yuan more.