The cost of 1 crude oil contract

The cost of 1 crude oil contract

After the U.S. lifted the ban on crude oil exports in 205, U.S. domestic crude oil production almost doubled, and the U.S. ranks among the top crude oil producers in the world. Since the beginning of February, US crude oil production hasThe cost of 1 crude oil contract exceeded 20 million barrels per day, of which a large part comes from shale oil.

BenLeBrun pointed out that the market has recovered a bit now, possibly because some short positions have been lifted. In the days close to the June 2 referendum, investors and traders are bound to face huge volatility.

At the same time, the Secretary of State of the United States announced the exemption list, but it is not 8 countries, but 7 countries. The exemption lists include: India, Greece, Japan, Turkey, Italy, South Korea and Taiwan. The United States previously said that it was an eight-nation country, and it was afraid of misunderstandings about the country. Moreover, the United States has previously stated that there will be no EU in the exemption list, so why do Italy and Greece appear on the list?

Trump wrote on Twitter that oil prices are artificially pushed to very high levels, which is bad and will not be accepted. Trump's remarks attacked the collective production cuts led by OPEC. After Trump made the above comments, oil prices fell sharply by more than% in a day, but the bulls soon made up for most of their losses.

Some help may be coming, but this is also a huge problem. Saudi Arabia said it may be willing to change its production methods and increase production to compensate for the loss of crude oil from Iran. But Goldman Sachs warned that there is no guarantee that Saudi Arabia will completely offset Iran's production cuts.

OPEC and Russia and other non-OPEC oil-producing countries reached an agreement on produThe cost of 1 crude oil contractction reduction at the end of 206, and the current production reduction agreement was extended to February 208. OPEC will hold the 74th OPEC meeting on June 22 to discuss issues such as production cuts.

It has been mentioned many times before that the core problem of the crude oil market this year is the game between the United States’ crazy oil production and OPEC’s production cuts so far. The United States hopes to expand its own crude oil production while continuously reducing crude oil imports and expanding market share. The purpose is to make the United States a net crude oil net. Exporting countries, and OPEC is to balance the situation of overcapacity in the crude oil market and continue to reduce production. Recently, due to the Iranian problem in the Middle East, crude oil prices have ushered in a strong rise, and as the storm has gradually subsided, the rise in crude oil has also gradually increased. Then looking at the future of the market, can crude oil prices reappear in the future? What? Some clues may be found from these factors.

HSBC pointed out that with the outbreak of political crises in Italy and Spain, high political uncertainty in Europe may prompt the European Central Bank to postpone any policy adjustment decisions to July or even September, thereby increasing the degree of divergence between the Fed and the European Central Bank's monetary policies . This may push the euro/dollar down to 5.