In thpdf Monthly crude oil spot price prediction model using relevant inventoryis regard, the "Financial Times" published an article that the US's temporary exemption of import tariffs on EU steel and aluminum products will end this week. Last week, Trump announced the launch of a national security investigation on imported cars and may subsequently impose tariffs. From this point of view, the possibility of a trade war between Europe and the United States is much greater than that of a trade war between China and the United States.
However, at present, Iran is supported by the European Union and Russia. Iran’s crude oil exports will not be affected in a short time. At the same time, most of Iran’s crude oil is shipped to Asia, especially, and the increasing demand for crude oil is well met. As a result of Iran’s crude oil exports, it is difficult to have a substantial impact on Iran in the short term.
Schallenberger said that apart from Saudi Arabia and Russia, no crude oil producer can make up for Iran's supply gap. I expect Saudi Arabia and Russia to increase production when necessary, and supply shortages and higher oil prices may be a major risk facing the global economy in 209, Schallenberger added.
According to reports, in the early morning of May 9th, US President Trump officially announced that the United States would unilaterally withdraw from the comprehensive agreement on the Iranian nuclear issue signed by Iran and the six countries on the Iranian nuclear issue in 205, and said that at the same time the economic sanctions on Iran would be restored. Trump made a televised speech at the White House that day, calling the Iran nuclear agreement a bad agreement. Trump also announced that the highest level of economic sanctions will be imposed on Iran. After the speech, Trump signed a document on the withdrawal of the United States from the Iran nuclear agreement.
According to people familiar with the matter, the rapid increase in Russian oil production is mainly due to the huge inventory of oil tanks in western Siberia. According to data from Russia’s state-controlled pipeline monopoly, the Transneft pipeline system can store approximately 6 million tons of oil, which is equivalent to Russia’s daily crude oil production. Not only that, the storage capacity of Rosneft’s warehouse is even more alarming, about 7 million tons.
Kuwait and the other members of the Joint Ministerial Monitoring Committee-Saudi Arabia, Algeria, Venezuela, Russia and Oman-plan to hold a meeting in the Saudi city of Jeddah later this week. Iraqi Oil Minister Jaluebi said in Baghdad last month that some OPEC countries and their allies suggespdf Monthly crude oil spot price prediction model using relevant inventoryted extending the production reduction agreement beyond 208 and until mid-209.
Regarding possible sanctions measures, Venezuelan international lawyer Alba believes that in the short term, an oil embargo is unlikely, especially in April, when ConocoPhillips was approved to take over the $2 billion Venezuelan state-owned oil company PDVSA. After Caribbean Assets.