my country is currently the world’s largest crude oil importer. In addition to increasing crude oil prices, downstream industries will bear the pressure of huge cost increases. my country will also generBan us crude oilate as much as RMB 0 billion due to the increase in oil prices per barrel based on domestic crude oil imports in 207. The risk of premium. Customs statistics show that my country’s crude oil imports amounted to US$7.9 billion in the first four months of this year, a cumulative increase of %.
BMI Research said that OPEC oil production is expected to remain stable or slightly above 2 million barrels per day for the rest of this year. Before May 2nd, US President Trump will decide whether to continue the implementation of the Iran international nuclear agreement. Once the United States decides to impose new sanctions on Iran, there will be a supply gap of 400,000 to 500,000 barrels per day in the international crude oil market.
As shown in the figure above, today's crude oil price opened at US$698, and is currently up US$0.4, or 0.2%, to US$609/barrel. The K-line out of the W-bottom technical form indicates that the current round of oil prices have successfully bottomed around US$622, and the oil price is expected to reach the US$70 mark again.
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 surges seriously, especially since five of the past six economic recessions in the United States have occurred after oil price surges.
Today is the fourth working day of this round of refined oil pricing cycle, and there are still 8 days before the adjustment window for refined oil prices on the 6th. This year, refined oil prices have generally shown an upward trend, with one of the 22 price adjustments increasing, and even during the period from September to October, oil prices experienced four consecutive increases, causing car owners to complain.
As of Beijing time: 46, Brent crude oil futures rose 0.8 US dollars, or 0.24%, to 747 US dollars per barrel. The settlement price fell 2% on Monday to US$729 per barrel. West Texas InBan us crude oiltermediate WTI futures rose 0.6 US dollars, or 0.56%, to 6 US dollars per barrel. It fell 6% to US$675 per barrel the previous day.
According to the latest data from the International Monetary Fund, Venezuela’s inflation rate may reach 1 million percent this year. And Maduro’s new economic policies, including the increase in wages and pensions, the abolition of poorly organized currencies, the development of tourism, and the reliance on oil and gold, in the eyes of some economic analysts, have not been able to reassure the public to a great extent, nor can they. To curb soaring prices, instead, there will be market chaos.
After hitting a historical low of US$254 per barrel, Brent crude oil prices have risen for three consecutive years, with increases of 495%, 72%, and 8% respectively; during the same period, the annual increase of WTI crude oil prices was 424%, 77%, and %. . Since this year, the price increase in the two major international crude oil markets has surpassed or approached last year's increase. The resulting premium loss in my country is self-evident.