US Secretary of Energy Perry said on Tuesday that the United States wants to help other countries in the world increase energy production. On the other hand, the important export terminal of the Libyan NaNew York Stock Exchange crude oil pricetional Petroleum Company is again controlled by armed organizations, which makes the country's export level more uncertain.
Nunan said that U.S. output is growing. If you look at U.S. output, you will see linear growth. The important thing is that the spread between Brent and US crude oil is widening. Financially speaking, it is reasonable for buyers to buy US crude oil because it is cheap.
Jason Bordoff, director of Columbia University's Center for Global Energy Policy, said that the plans developed by Chevron and ExxonMobil both show that the Permian Basin has become a major obstacle to OPEC's boosting oil prices and balancing international oil market supply and demand.
Widdershoven wrote in Oilprice that although Russia’s negotiations with OPEC to extend the production reduction agreement to 209 are still the subject of the oil market, and global crude oil inventories are gradually declining, a new threat is slowly rising in Asia, the fastest-growing market.
Judging from the above news, today's oil prices are bursting with good news at this stage. The rising trend of oil prices is obvious. Saudi Arabia cuts production to balance supply and demand. The Federal Reserve doves suppress the U.S. dollar index. The two levels of boost have greatly increased the probability that oil prices will exceed $55. .
US StateNew York Stock Exchange crude oil price Department officials said earlier that the United States is asking all partner countries, not only India, to stop buying Iranian crude oil. Under pressure from the United States, according to sources quoted by Reuters, India’s August oil imports from Iran have fallen by 2% from July to 50,000 barrels per day. As the tensions between the United States and Iran further ferment, market concerns about tighter crude oil supplies will continue to heat up, which is expected to pave the way for oil prices.
There will be a period of time in 209 when US shale oil production has increased substantially from current levels, but new pipelines are still under construction, which means that price cuts will be expanded. During this period of time, the widening gap between shale oil production and transportation capacity in the United States means that shale oil drilling activities will eventually have to slow down.
On Tuesday, April 24, ministers will meet again to talk about the North American Free Trade Agreement NAFTA. US President Trump said on Monday April 2 that the situation of illegal immigration in Mexico will be linked to the North American Free Trade Agreement negotiations. Mexico's attitude towards border issues may depend on the NAFTA negotiations.