Crude oil market value

Crude oil market value

The release of this report coincided with Turkey's currency crisis. Turkey’s crisis may only be a precursor to the emerging market crisis. The strengthening of the U.S. dollar has led to a large amount of overseas funds returning to the United States. Emerging markets are experiencing severe capital outflows, coupled with high foreign Crude oil market valuedebt, and they will easily be cut by the United States. wool. This is the inevitable result after the dollar has entered a strong cycle. First, there will be Argentina and then Turkey. As long as the dollar continues to appreciate, there will definitely be the next.

The Vice President of Iran stated that the United States’ plan to reduce Iran’s oil exports to zero will never succeed: the United States believes that Saudi Arabia can replace our oil, but the current Iranian oil has reached more than $80 per barrel, so even if only half of the original With regard to export volume, Iran can still obtain the same income as before.

According to the published data, API crude oil inventories dropped by 2.28 million barrels, which is expected to decrease by 220,000 barrels. During the week, API gasoline inventories increased by 805,000 barrels, and the previous value increased by 50,000 barrels. API refined oil inventories decreased by 440,000 barrels that week, and the previous value increased by 2.56 million barrels.

Summary: At the OPEC meeting on February 6, due to the opinions of the member states, no agreement on production reduction was reached. Russia’s attitude towards production cuts has changed again. If OPEC fails to reach an agreement on production cuts within these two days, oil prices are expected to fall below US$45 per barrel.

In a telephone interview in Seoul on Tuesday, Kwangrae said that as oil prices approach the 20-day moving average, technical signals are rebounding, and we will continue until OPEC’s meeting later this month provides us with more details on its next steps. See the fluctuations in oil prices.

Recently, crude oil prices have skyrocketed. On the one hand, the market’s previous concerns about the OPEC meeting have cooled down with the end of the meeting. On the other hand, although the OPEC meeting announced an increase in production, it appears to be unable to meet the current huge crude oil supply gap in the market, so this time OPEC The meeting can be said to be a failed production increase. Crude oil prices have now broken through $7, and even soared to $74 at one time, making this June market a counterattack in theCrude oil market value last few days. However, this is only the beginning, the real good show may not have been staged yet.

Although the market is worried that the trade friction between China and the United States will lead to a decline in crude oil demand. However, due to the overall upward trend of crude oil demand, the import volume of US oil is second only to Canada and is greater than the combined import volume of the third and fourth largest importing countries, Britain and the Netherlands. Therefore, for U.S. oil, it is an important market for U.S. crude oil exports.