As a result, cheap U.S. crude oil makes it particularly attractive to overseas buyers. The price difference between WTI and Brent crude oil is $8/barrel enough to cover the transportation cost oU.S. domestic crude oil supply dataf American oil to Asia. After reaching a record high of nearly 25 million barrels in May, oil exports from the United States to Asia may hit a record high in July. There are reports that close to zero large ships are lining up in the United States to load oil and then set off for Asia. Each tanker can carry 2 million barrels of crude oil.
Currie pointed out that the current market shortage is at the level of 0 million barrels per day, and this shortcoming needs to be filled to avoid a depression. He said that there is a price to pay in this matter, either choose higher oil prices or provide more supply; OPEC is currently the only organization capable of adjusting reserves. If adjustments are not made, then there may be a depression. .
Twenty years ago, Iran’s production accounted for more than 4% of the global supply. After being subject to joint economic sanctions by countries such as the European Union, its market share dropped to 5%. In the second half of 205, the six Iranian nuclear powers reached an agreement and after the sanctions were lifted, the country's crude oil production quickly returned to a level close to about 4% of global supply. Especially when the current oil price level is significantly better than the previous two years, the Iranian authorities do not hope that the increase in production will cause the oil price to fall again and bring about a loss of profit.
Last week, China Oil.com predicted that crude oil prices should fluctuate around the 68-69 range this week, waiting for the opportunity to rise and break through. From the current point of view, this is indeed the case. Crude oil inventories are negative and on the verge of an outbreak. The situation in the Middle East, in such a long-short see-saw situation, crude oil prices are perfectly controlled near the 68 line to maintain a volatile market. And if it is exactly what Macron said, then Trump will really tear up the Iran nuclear agreement.
Generally, international oil prices fluctuate greatly, and domestic refined oil prices will also fluctuate. The price of refined oil in China has gone through a second upward adjustment before. After the rise and fall, gasoline has risen by 40 yuan/ton, and diesel has risen by 85 yuan/ton. And it has experienced four consecutive rises from September to October. During the four consecutive rises, gasoline has risen by 70 yuan/ton, and diesel has risen by 705 yuan/ton. Especially in the oil price adjustment on October 9, gasoline prices directly entered the 8 yuan era.
BritisU.S. domestic crude oil supply datah Foreign Minister Johnson stated that Iranian business transactions are feasible without violating sanctions. We will do our best to protect British commercial interests in Iran. Our suggestion is to add a follow-up agreement around the core content of JCPOA to solve Trump's concerns. Without violating sanctions, Iranian business transactions are feasible. We will do our best to protect British commercial interests in Iran.