Eurasian Group analysts wrote in a report on Tuesday that not only, India is also unlikely to give in to the United States. India’s energy demand continues to grow, and Iran has become its key and strategic source of crude oil supply. Analysts predict that India currently buys approximately 700,000 barrels of crude oil from Iran eCrude oil prices todayvery day, and India’s state-owned refineries may continue to import Iranian crude oil. India ICRA
In 208, the United States became a net exporter of crude oil, and shale oil production continued to increase the problem of oversupply in the oil market, causing international oil prices to fall continuously. Moreover, the influence of OPEC oil-producing countries on oil prices seems to be gradually weakening, and the influence of US shale oil on oil prices is gradually increasing. For this reason, OPEC oil-producing countries and non-OPEC countries have formed an alliance to counter US shale oil.
Cohen said that the Syrian conflict will not end soon. If the Syrian conflict escalates, it will accelerate the escalation of the Saudi-led Yemen war, Saudi Arabia's restless eastern region and Iraq. Iraq will hold parliamentary elections in May. Also in May, Trump will decide whether to reimpose sanctions on Iran. Iran is OPEC's third largest oil producer.
Previously, Sinopec’s managers stated in early April that because Aramco’s inexplicable price increase for light crude oil resulted in excessively high prices, Sinopec plans to cut Saudi crude oil imports by 40% in May. Since the middle of last year, oil imports to Saudi Arabia have been gradually reduced. In July last year, Saudi Arabia was also the second largest crude oil importer to China after Russia. By this month, Saudi crude oil exports to China had fallen to fourth place.
In addition, although OPEC failed to reach a clear agreement on oil production strategy last week, traders said that Saudi Arabia has promised not to oversupply the market in large quantities, which has provided support to the oil market.
In short, the platforms operated by some illegal crude oil investment companies constitute crude oil spot investment scams that are not connected to the global market. Clients’ funds are operated within the dark platform companies, and the companies manipulate the dark platform operations to eCrude oil prices todayarn customers’ money, so investors It is necessary to be cautious and correct to identify, reduce spot investment, and participate more in crude oil spot transactions. If you accidentally fall into a crude oil investment scam, investors must use legal weapons to protect their legitimate rights and interests.
U.S. crude oil production increased for 9 weeks in a row, once again intensifying market concerns about oversupply. Last week, the International Energy Agency, IEA, EIA, and OPEC all raised their 208 U.S. crude oil production forecasts. OPEC raised the U.S. supply growth forecast to 720,000 barrels per day, but the IEA’s forecast is 20% higher than its forecast, which is crude oil. The bulls poured a pot of cold water.