Al-Falih recently stated that it will meet with OPEC and non-OPEC oil-producing countries next month to discuss the oiWorld crude oil marketl market. The freeze production plan has once again surfaced. The International Energy Forum will be held in Algeria from September 26 to 28. The Qatar Oil Minister has previously stated that OPEC member states will start discussions on the sidelines of the forum.
In recent years, OPEC, Russia and several other oil-producing countries may soon begin to reduce production cut agreements that have lasted for seven months. Affected by this, oil prices have begun to fall. As we all know, the production reduction agreement has exhausted the oversupply in the global oil market and helped to balance the oil market. However, given that Venezuela’s output continues to fall sharply and the United States has re-sanctioned Iran, OPEC and non-OPEC oil-producing countries led by Russia are reviewing the production reduction agreement.
At 22:0 on June 4, 208, the 2nd World Cup football match officially opened at Luzhniki Stadium, Russia. 80,000 fans gathered to shout! In the opening match, the host Russia showed its ambitions and slaughtered with a score of 5-0. Saudi Arabia won a good start! But it is obvious that in this opening ceremony, scores are important, but the most eye-catching financial market was the meeting between Russian President Putin and Saudi leaders.
All in all, the day after tomorrow, refined oil prices are likely to rise for the fifth time. International oil prices will have heavy data to be announced in the past two days. If US oil inventories decrease, it will benefit international oil prices and may increase the increase in domestic refined oil products.
Two White House officials and a source familiar with discussions within the US government said on Wednesday that US President Trump has almost decided to withdraw from the Iran nuclear agreement signed in 205 by May 2, but the specific approach is still unknown.
Today, four senior officials of the European Central Bank Management Committee Villeroy de Gallo, Executive Committee Member Mursch, Executive Committee Lautenschleger and Executive Committee Cole will successively make important speeches. Among them, Lautenschleger will address monetary policy. Give a speech. ThWorld crude oil markete recent debate on when the European Central Bank will end QE has become particularly intense.
Union will continue to hold a 24-hour strike on August 6 and August 20, and will hold a 2-hour strike on August. The two-hour strike of British workers ceased yesterday, and Trump has expressed his willingness to meet with Iranian President Rouhani. U.S. oil plunged 2%, and Bursa oil also fell 24%.
The increase in US demand is limited. The United States is currently the world's largest consumer of crude oil, and its consumption accounts for about 20% of the world's consumption. However, as the US economy has maintained a relatively low growth rate for a long time, demand for crude oil has grown slowly. As the world's second largest consumer of crude oil, demand for crude oil has been relatively strong. From January to May of 208, crude oil imports reached 900 million tons, an increase of 8% year-on-year. In 208, the allowable amount of domestic crude oil imports for non-state trade reached 424.2 billion tons. In 208, domestic crude oil imports may achieve another breakthrough. India is the world's third largest consumer of crude oil after the United States and the United States, with great potential for demand growth. Relying on the high economic growth rate, Indian crude oil consumption has continued to grow in recent years, and the contribution of Indian consumption to the global crude oil consumption growth is about 5%.
Choosing to ignore U.S. sanctions and reduce purchases of U.S. oil sent a fairly clear signal: It will not be forced to cooperate with U.S. policies and is willing to help Iran as long as it gets some rewards. In recent years, Iranian relations have become increasingly close. Changes in the situation may promote the strengthening of relations between the two countries and strengthen Iran’s determination to resist the United States.
The OPEC meeting was held in Vienna last week and it was decided to increase production. Some analysts have indicated that the decision to increase crude oil production may have a significant impact on oil prices in the short term, but in the long run, oil companies’ spending on new oil fields will have a more lasting impact on supply and prices.