U.S. crude oil production surpasses Saudi Arabia-global leader in 2019

U.S. crude oil production surpasses Saudi Arabia-global leader in 2019

The productivity of Venezuela may continue to decrease due to social instability and possible sanctions by Trump. There is speculatiU.S. crude oil production surpasses Saudi Arabia-global leader in 2019on that Trump's foreign policy is closely related to dissatisfaction with high oil prices. However, the analysis indicated that we do not believe that Trump’s relevant policies are so limited. On the contrary, we have seen a clear reason for Trump to promote price increases: energy production is an important basis for Trump’s governance.

Bhave said in its latest research report that if oil prices rise above the US$00 per barrel level, it will lead to a 0.2% reduction in global economic growth next year. And Johanna, an Asian emerging market economic analyst at Citibank

International oil prices continue to fall by 6%. They are currently fluctuating around US$42, and are only about US$2 from the price of refined oil floor prices of US$40. After the opening of this round of refined oil price adjustment window, oil prices are likely to enter the era of 5 yuan. The price of refined oil fell 270 yuan per ton.

Deutsche Bank also pointed out that if oil prices run steadily or rise, and risk appetite recovers, the currency with the most bleak outlook is undoubtedly the yen. At present, the US dollar against the yen has soared above 50, with a cumulative increase of 04% since the 2nd, a new high since the end of the month.

Nowadays, at the end of 208, OPEC oil-producing countries reached an extended production cut plan. Although the international oil price was strongly boosted in the short-term, from the perspective of fluctuations in oil prices, the upside potential is limited. Due to the continuous increase in shale oil production in the United States, the oil market has oversupply problems. It is difficult for oil-producing countries to solve the problem of imbalance between supply and demand in the oil market.

The 0 month non-agricultural report was U.S. crude oil production surpasses Saudi Arabia-global leader in 2019beautiful, and the dollar rose short-term after hearing the news, smoothing out the intraday decline and suppressing international crude oil prices. At the same time, the Fed’s interest rate hike has been effectively supported, and the long-term benefit of the US dollar index, international oil prices are further under pressure, which may start a big bear market and fall below the $60 mark.

This exploration result is of great significance to Norway, which is coming out of a three-year severe recession, because it will help increase the utilization rate of pipelines while also helping to prevent a plummet of oil and gas output in the future, thereby maintaining the Norwegian energy industry and even The steady development of the entire economic operation.

It is a small spot market, but it plays an important role in regulating the balance of supply and demand in the United States and Europe. Crude oil and oil products in this market mainly flow into the US market, but if the price difference between Europe and the United States is large, it will flow into the European market, especially diesel and fuel oil.

According to IEA, the Central and Eastern OPEC countries can increase crude oil production by 0 million barrels per day in a relatively short period of time. Venezuela and Iran may reduce their output by 500,000 barrels per day by the end of 209, which is about 0% of the current output.