Last week, US crude oil imports decreased by Crude oil trading economics40,000 barrels/day to 740,000 barrels/day; last week, US crude oil exports increased by 5,000 barrels/day to 2.45 million barrels/day. EIA data shows that the refinery capacity utilization rate rose by 0.2% to 84%. In addition, last week, US domestic crude oil production increased by 0 million barrels to 200,000 barrels per day.
In addition to the above-mentioned focus, the international oil market must also pay attention to preventing the United States from imposing oil and energy sanctions on Venezuela. As the recent Venezuelan presidential turmoil has caused global concern, the United States is likely to impose energy sanctions on Venezuela, which will lead to short-term supply interruptions and favorable oil prices. .
Second-hand data sources show that monthly OPEC oil production further reduced by 540,000 barrels/day to 002 million barrels/day, still thanks to Saudi Arabia’s vigorous production cuts. The total production cut implementation rate of the OPEC member states participating in the production cuts has reached 55%.
On May 8th, international oil prices have performed well recently. Brent crude oil and US WTI crude oil both hit a new high since 204, and the oil even touched the $80 mark. Reuters market analyst John
Goldman Sachs said that the market’s concerns about the prospects for oil demand are somewhat excessive. The current market conditions show that the continued reduction in supply and the further tightening of the market will push the price of Bren oil to more than US$70 per barrel.
The oil demand situation still seems to be good. Oil demand in April increased by 9% year-on-year, twice the monthly growth rCrude oil trading economicsate, and returned to a healthy level. However, the high demand for oil in April was due to the unusually weak demand in the same period last year, and possibly also because the government's winter pollution control measures officially ended-which temporarily boosted industrial production this spring.
With the development of the times, more and more people have begun to invest in financial management, and there are various ways of financial management. Nowadays, crude oil spot investment is undoubtedly the most popular investment and financial product. Crude oil investment has high returns and low thresholds, attracting countless investors to enter the market. However, how can investors identify crude oil spot investment scams? China Petroleum Finance.com introduces five aspects to avoid crude oil investment scams:
At that time, the four major OPEC oil producers agreed to reduce daily oil production by 200,000 barrels. Important non-OPEC oil-producing countries also agreed to cut production, with a total cut of 600,000 barrels per day, of which Russia’s production cut accounted for about half of 100,000 barrels per day.