International crude oil prices have been rising for consecutive weeks. Today is the last trading day of the week. At present, the price of oil this week is showing a downward trend. If there are no surprises, the price increase of last week may be curtailedEast Texas crude oil prices. The price adjustment window is opened, and the market is generally expected to increase according to the mechanism.
European powers have also vowed to uphold the Iran nuclear agreement. The leaders of the United Kingdom, France and Germany issued a joint statement saying: Together we emphasize that we will continue to work on the joint comprehensive action plan JCPoA. The agreement remains important to our common security.
With Brent crude oil breaking through US$80/barrel, demand for crude oil in Asia has also reached a record level, driving the region’s demand for crude oil to a trillion US dollars value. This level is almost twice that of the oil market downturn from 205 to 206. Since December 208, oil prices have risen by 20%, hitting the highest level since December 204.
Looking back at the outbreak of the US-China trade war concerns, crude oil prices have fallen sharply. Therefore, if this sentiment continues to spread in the market outlook, it is not ruled out that crude oil prices will plummet again. Finally, OPEC's concerns about increasing production have eased. Worries about the Sino-US trade conflict have spontaneously arisen. Therefore, the crude oil market is not alone. The current short-term rebound in oil prices has not helped the market escape the real danger zone.
The market has entered the twilight years of the oil age. Rumors and financial activities from the outside are affecting the price of crude oil and the stock prices held by investors, not only making the trading of crude oil and stocks difficult, but also filling them with Danger. Investors must pay close attention to market dynamics, and at the same time, stay away from tempting but ultimately destructive opportunities.
China Oil Net, June 22. Crude East Texas crude oil pricesoil prices fluctuated up today. Asian markets rose close to the US dollar at the beginning of the trading session. Under the prospect of increased production at the OPEC meeting, why did crude oil prices jump at the opening? What are the reasons behind this? See below for details.
Barkindo pointed out earlier this week: We are pushing ahead with plans to increase production. OPEC internal documents show that the output of OPEC members other than Nigeria, Libya and Congo in September increased by 480,000 barrels per day from May.
However, crude oil organizations including OPEC and the International Energy Agency IEA predict that the growth of crude oil demand in the next few years will slow to an average annual increase of 0 million barrels per day. It surpassed the United States in 207 and became the world's largest crude oil importer. Bloomberg believes that the huge volume, represented by changes in demand, is the decisive factor for global oil prices.