As the country with the largest demand for crude oil in the world, it is also very depU.S. crude oil exportsendent on high-quality and cheap US crude oil. In 207, it imported 80 million barrels of U.S. crude oil, and this year it was the largest buyer of U.S. crude oil in Asia. It even surpassed Canada once and became the largest buyer of American oil in the world.
However, Iran will not give up easily. But as the toughest sanctions in the coming months will come into effect, life in Iran may be difficult. At present, the first shot of this war has been fired: Standard & Poor's Global Platts Energy Consulting S&P
Analysts believe that after the United States withdraws from the comprehensive agreement on the Iranian nuclear issue, it is expected that Iran will work to safeguard its interests in neighboring Iraq and compete with the United States, but it may encounter resistance. Moqtada Sadr, the leader of the Walkers Alliance, who became the biggest winner in the Iraqi National Assembly election last month, does not want Iraq to be reduced to a stage where the United States and Iran compete.
The sharp drop in international oil prices has directly harmed oil export revenues and increased oil production costs for oil-producing countries. Take Saudi Arabia as an example. In the context of Saudi Arabia’s severe fiscal deficit, it was predicted earlier that Brent oil prices would have to rise to at least $65 to balance the fiscal deficit. The current continuous plunge in international oil prices is undoubtedly a further reduction in the economic income of oil-producing countries, affecting the total GDP and growth rate of oil-producing countries.
-0%, when the amount of loss has reached your tolerance limit, you should close the position immediately, even if the market does turn around after 5 minutes, do not tact, because you have removed the risk that the market will continue to deteriorate and the loss will expand indefinitely. Investors in crude oil must formulate investment strategies so that they can control their investments, rather than let them control them.
OPEC said in its latest monthly report that the outlook for the oil market in the second half of this year is highly uncertain, even if the organization's data show that the global sU.S. crude oil exportsurplus has been eliminated. This implies that the outcome of the discussion on easing the production reduction agreement next week is still difficult to say.
However, railway transportation cannot fully bridge the gap between production and transportation. In addition, the railway is only a temporary solution for oil companies before the pipeline transportation is not perfect, so the railway companies are not willing to increase investment to enhance their crude oil transportation capacity. This is one of the reasons why WCS oil prices are under pressure.
In fact, crude oil prices have continued to rise recently, and the Bollinger Band three tracks on the daily chart also maintain a stable and bullish trend, which indicates that the overall trend of crude oil is in an upward channel, but the recent market has shifted from rising to a high level of shock. After the market, the short-term bull momentum has actually been insufficient. The fast and slow lines in the macd indicator of the daily chart have intersected and a dead cross is about to appear. At the same time, the reduction of red kinetic energy also means the disappearance of bull kinetic energy. Kdj's third line has already formed a dead cross down at the overbought position, so this week we must be alert to the correction of the market. The $70 below is the primary support. Due to the lack of news, if the later inventory data fails to bring benefits, then oil prices will usher in a deeper decline.
OilPrice.com, an energy news website, said that for Russian Putin, the production cut agreement is not a tool to raise oil prices, but a lower-than-political tool. So, in fact, Russia does not need excessive oil prices.
Longanecker said: U.S. oil and gas companies spent 8 to 9 billion U.S. dollars on pipelines last year alone. If they purchase materials from countries or regions outside the U.S., the annual material cost will increase by more than 2 billion U.S. dollars.