But European countries have questioned the proposal Crude oil market trading hoursto allow the European financial industry to bypass US sanctions. The European Union is currently negotiating with the United States on the issue of trade disputes. The importance of the United States’ influence on the European economy is self-evident. Its exports to Europe exceed US$45 billion. In contrast, Iran’s exports to Europe are less than 240. Billion US dollars, ranking 66th among trading partners.
All Ponzi schemes will eventually collapse. Similar to the collapse of the stock market, which will cause the Ponzi scheme to burst, falling oil prices, poor shale oil economy, and declining profits in the industry will eventually lead to a crisis in the oil market.
Around the date when the US sanctions against Iran came into effect, due to the anticipation of the effect of the sanctions, market concerns about crude oil supply weakened, and international oil prices began to fall from high levels. In September, international oil prices once rose to a 4-year high, and some experts even predicted that oil prices would rise to $00.
②Remain unchanged: respect the opinions of Iran and Venezuela, and no adjustments will be made to the production reduction agreement at this meeting. As a result, crude oil inventories in the third quarter may decline. If production increases in the fourth quarter, oil prices will not fall until 209, but demand may shrink due to high oil prices.
Summary: Today's crude oil prices will usher in two major events in the evening. The details of the US sanctions against Iran will be released tonight. At the same time, the mid-term elections in the United States will be held tomorrow, and relevant information will gradually be exposed, and crude oil prices may have a big market.
The U.S. Energy Information Administration (EIA) released a report earlier, stating that U.S. shale oil production is expected to rise to a record high ofCrude oil market trading hours 7.2 million barrels per day in June, with the largest increase coming from the Permian Basin. It is expected to grow to a record 0 million barrels per day.
McNally said that if the parties to the Iran nuclear agreement fail to reach a new agreement with Iran, the end of the year will reduce crude oil production by 0 million barrels per day to 200,000 barrels per day, and this figure will rise to 500,000 barrels in the first half of 209. /day.