According to the U.S. 5-year oil outlook report released by the International Energy Agency, the total US crude oil exports are expected to double to 4.2 million barrels per day in 2024, while the total crude oil and refined oil exports will reach 9 millionHow to td ameritrade symbol for crude oil spot barrels per day. IEA pointed out that the United States is expected to become a net oil exporter by 202 years, and will soon surpass Russia and Saudi Arabia, the world's largest oil country. This also means that the United States will no longer need to import so much oil. Even affected by American oil, Canadian oil may have to exit the global market early.
Barkindo said on Tuesday that market rebalancing is a long process. If OPEC continues to implement production cuts, internal disharmony may arise. Saudi Arabia will benefit from Iran’s losses, and it is well known that the two countries are very opposed in the region.
The high uncertainty in OPEC has been around for several years. This internal discrepancy is so obvious that it means that this uncertainty may exist for a longer time, which may or lead to some unpredictable results. , So as the meeting approaches, something may happen.
Corresponding to this is the continuous surge in US crude oil production. At present, the US crude oil production has reached 0.7 million barrels per day. There is little suspense that it exceeded Russia’s current production of 0 million barrels per day in 208. It is expected that this output will be expected by the end of 209. Reached 700,000 barrels per day.
BenLeBrun pointed out that the market has recovered a bit now, possibly because some short positions have been lifted. In the days close to the June 2 referendum, investors and traders are bound to face huge volatility.
The customs released thHow to td ameritrade symbol for crude oil spote import and export trade data for May this year on Friday. Among them, crude oil imports decreased by 40,000 tons from the previous month, and the year-on-year growth rate dropped sharply from 5% last month to 5% due to the impact of the import volume in the same period last year.