LLS crude oil spot price

LLS crude oil spot price

To be sure, rising oil prices will have very different economic effects on different regions of the world, but it will undoubtedly increase the risks faced by the United States. UBS said: We should take the possibility of oil price surgesLLS crude oil spot price seriously, especially since five of the past six economic recessions in the United States have occurred after oil price surges.

At 2:00 am on Thursday, May Day, the Federal Reserve FOMC will announce interest rate resolutions and policy statements, and no press conference will be held at that time. The market generally predicts that the Fed will stand still and focus on the description of inflation trends in the policy statement. This meeting of the Fed is expected to consolidate the possibility of raising interest rates in June, and the market is closely watching whether officials will reveal clues that they will raise interest rates four times this year.

The OPEC meeting will review the 800,000 barrels/day production cut agreement that was originally scheduled to expire at the end of the year, and the OPEC leader Saudi Arabia and non-OPEC oil-producing countries’ representatives Russia have begun to release information about their intention to increase production in the second half of May. Even the United States intends to suppress high oil prices. Trump tweeted that artificially pushing up oil prices will not be accepted.

As the international crude oil market is still facing many uncertainties in the future, the US shale oil production continues to make progress, and OPEC’s own market pricing power has declined significantly. The organization has to consider further strengthening cooperation with non-OPEC oil producing countries such as Russia to jointly respond The complex situation of the international crude oil market. OPEC has proposed that Russia become an observer country, and intends to institutionalize the cooperation between OPEC and non-OPEC oil-producing countries and form a new permanent institution to achieve the institutionalization of mutual relations. Like OPEC, the organization will be able to make decisions on regulating the oil market in the future, but unlike OPEC, major oil-producing countries such as Saudi Arabia and Russia may have a greater say in the new agency.

Fernando, head of global crude oil trade at Petrobras, said: In 2022, Petrobras crude oil production will reach 40,000 tons per day, and the export volume will be more than twice the current volume...It is the most important market for Petrobras. In other words, imports of Brazilian oil will be increased.

The United States has always dreamed of achieving energy self-sufficiency, but historically, the United States has always been a major crude oil importer. Take the U.S. oil imports in 2005 asLLS crude oil spot price an example. That year, the U.S. crude oil imports were at a historical peak, with approximately 2 million barrels of oil imported every day.

Some senior executives of Shandong refinery companies said that companies must control the risk of international oil price fluctuations through various modes such as crude oil futures and forward crude oil spot, so that they can have a healthy and stable development. At present, the import volume of local refining enterprises is still very small. Therefore, through crude oil futures and forward crude oil spot, the rapid, healthy and stable development of local refining enterprises can be achieved.

However, the US government recently stated that the Trump administration is actively considering the strategy of abandoning oil sanctions considering the cost of input. Are you confessing so soon? A White House official revealed that the government is prepared to cooperate with countries that agree to gradually reduce imports of Iranian oil, but internal discussions are already underway as to whether there should be an exemption rule. This is also the first time that Washington has reported abandoning Iranian oil. News of oil sanctions.

The President of Venezuela previously stated that because inflation is too high, then the currency should not be changed. Then he announced that five zeros would be removed from Bolivar. But in fact, the problem of inflation in Venezuela has always existed, and the currency has changed again and again. Venezuela’s currency has gone through a process from Bolivar → strong bolivar → sovereign bolivar. The new currency introduced for the first time was to reduce the currency denomination to zero, that is, the strong bolivar replaced the original currency bolivar with 000, and the zero was removed. The second time the new currency was introduced, which is about to be launched, it was originally said to be reduced by a zero, but considering that the inflation rate reached 000000%, a reduction of 000 times might not be enough, so it was changed to a reduction of 5 zeros, which is a reduction of 00000 times.

Stephen Innes, head of Asia-Pacific trading at futures brokerage firm OANDA, pointed out that the possible sale of oil reserves in the United States will put pressure on oil prices. Innes added that the Trump administration is actively considering the development of US strategic oil reserves, which may have negative effects.