Today's crude oil market will usher in heavyBloomberg's U.S. crude oil export ban data or events. Oil prices staged a bullish and bearish offensive and defensive battle at $70. Analysts believe that if the 70 mark fails to stabilize, crude oil prices may face a bear market crisis in the future, and the opposite is true.
OPEC member countries have spare capacity. If necessary, OPEC can increase production at any time. I believe that if there is a need to increase production, OPEC's energy ministers will do so. Now, they just don't want to increase production, because there is no problem now, he said.
In addition, in June, the market should pay attention to the U.S.'s trade war. Recently, the U.S. imposed tariffs on steel and aluminum on Canada, Mexico and the European Union, and imposed tariffs on 50 billion products. The idea of trade protectionism is obvious. The key is to directly face it. Based on the previous consensus on Sino-US trade, if the United States really triggers a trade conflict, crude oil prices will inevitably suffer a severe setback.
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.
OPEC Secretary-General Barkin said that after President Trump criticized OPEC on Twitter for artificially pushing up oil prices, OPEC began to discuss how to ease production cuts. It is not uncommon for the United States to put pressure on OPEC. Some US energy ministers have asked oil-producing countries to take action to help lower oil prices.
On June 22, the 74th OPEC GeneralBloomberg's U.S. crude oil export ban Assembly will be held in Vienna. At that time, the Vienna Union of OPEC and Russia and other oil producing countries will reassess the oil market and make corresponding policy adjustments.
In July 207, Total, PetroChina and Iranian Petroleum Corporation signed an agreement to develop the South Pars gas field in Iran. Total holds 50.% of the shares, 0% of the shares, and Iranian Petroleum holds 9% of the shares.