Trump’s announcement of withdrawing from the Iran nucThe first U.S. crude oil vessel exported from Texaslear agreement detonated the global market. For a while, the investment market was surging. The Iranian oil minister even accused Trump, saying that Trump’s purpose was to raise crude oil prices. Details can be seen below. ,
Interestingly, nearly an hour after the American media reported that the Rashomon incident occurred, news came from the French Presidential Palace that US President Trump did not decide on the decision on the Iranian nuclear agreement when the French and American leaders spoke on Tuesday morning. Give any hint to French President Macron. This statement was subsequently confirmed by Reuters citing a US official.
Government’s 800 billion US dollars investment. As the midterm elections are approaching, from the overall perspective, the United States is the most injured by Trump's sanctions against Saudi Arabia. Moreover, Trump also wants to use Saudi Arabia to deal with Iran. If Saudi Arabia turns to Russia in the Middle East, the Trump midterm elections may be even more difficult.
According to the abundance of idle capacity, OPEC and its allies can be divided into the rich and the poor. Countries with abundant spare capacity, such as Saudi Arabia and Russia, belong to the rich group, while countries with insufficient spare capacity belong to the poor camp.
Trump called on oil-producing countries to increase production to control oil prices and support the global economy. According to Bloomberg News, before the United States announced its withdrawal from the Iran nuclear agreement, the Trump administration had asked Saudi Arabia to increase crude oil production by an average of 0 million barrels per day to balance market supply and demand.
There are two reasons for the increase in crude oil imports year by year: First, after the implementation of the local refined crude oil import rights and use rights policies, the demand for crude oil from local refineries is increasing rapidly. The second is the implementation of my country's crude oil strategic reserve. The 13th Five-Year Plan shows that by 2020, as the world's largest energy consumer, it will coThe first U.S. crude oil vessel exported from Texasmplete the second phase of strategic oil reserve purchases and storage, and will start preliminary work in other storage depots.
Other analysts said that the latest fundamental data from the US Energy Information Administration and other factors strongly suggest that the market is turning bullish on crude oil. The analyst expects that oil prices will bottom out and rebound, with an increase of 50% or more.
The bank maintained its view of Brent crude oil at US$60/barrel during the year, but lowered its view on oil distribution next year to US$6/barrel. The view on US WTI crude oil during the year was lowered to US$620/barrel, and next year it is expected to be US$525/barrel.