Alhajii concluded: People's demand for oil has finally reversed siCrude oil spot prices in real timence 2000, and the demand for gasoline has decreased, while the demand for heavy oil has increased. The irony is that the vast majority of shale oil production, the main source of global crude oil growth, is gasoline!
Similarly, Kuwait is also the largest crude oil importer in Asia. In April of this year, Kuwait’s crude oil exports were affected, which decreased by 80,000 barrels per day from the monthly average, but its crude oil exports increased by 60,000 barrels per day, which offset the decline in exports to India, Japan and South Korea. Impact.
Rats said that when oil companies cut capital expenditures in half, it is hard to say that there will be no impact. The line is expected. Taking into account other factors, the supply gap will push up the price of Brent crude oil to reach the level of US$90/barrel at the beginning of 2020. If a bull market is ushered in, it will also hit the US$05 mark.
The Qaidam Basin is one of the most abundant basins in my country in terms of oil and natural gas resources. Since 205 years in 2007, it took 8 years for PetroChina to add up to 800 million tons of proven oil reserves in the basin, which is more than Qinghai Oilfield in 2007. The total proved oil reserves in 52 years ago, the newly-added proven natural gas geological reserves reached 8.4 billion cubic meters.
The price difference between Blend and Brent crude oil, which has a confirmed shipment date, recently hit a six-year low of minus 2 dollars per barrel. Russian Ural crude oil is also under pressure, even though the seasonal refinery repairs have ended. According to trade sources, the premium for WTI delivery to Augusta in Italy is 0.8-0.9 USD, which is much lower than Azeri.
Trump's withdrawal from the Iran nuclear agreement detonated fears about supply shortages, and selling expectations boosted crude oil prices in the short term. Trump's withdrawal from the Iran nuclear agreement, which was reached at the end of 205, increased the risk of conflict in the Middle Crude oil spot prices in real timeEast and brought uncertainty to global oil supply at a time when the crude oil market was already tight.
This means that the recent wave of unwilling production cuts that have plagued the crude oil market will continue. It also means that even if countries such as Saudi Arabia and Russia accelerate production, the supply gap will still be difficult to fill in time. Therefore, oil prices are still expected to be supported to a considerable extent.
The arbitration was exempted, but imports of Iranian oil will continue. According to CNBC reports, Indian refiners imported about 20 million barrels of oil from Iran in October. However, sources believe that India’s Iranian oil imports in the month may be relatively reduced.
According to statistics, Saudi Arabia produced 9.92 million barrels a day in February, and Russia produced 950,000 barrels a day. In the month of this year, Saudi Arabia produced 9.96 million barrels of oil a day, and Russia produced 0.55 million barrels a day. Before being surpassed by Saudi Arabia, Russia has been the number one oil producer for months in a row. According to data from the Federal Bureau of Statistics, Russia's oil exports in the first two months of this year accounted for 29% of total exports, a slight increase from the same period last year.