The hottest prediction is that US crude oil invent

2022-09-23
  • Detail

It is estimated that U.S. crude oil inventory will decline, crude oil futures will close slightly higher

it is estimated that U.S. crude oil inventory will decline, crude oil futures will close slightly higher

July 4, 2018

[China paint information] market uncertainty led to intraday fluctuations in oil prices on Tuesday, expected inventories to decline, and European and American crude oil futures closed higher

on Tuesday (July 3), the settlement price of West Texas light oil futures in August 2018 on the New York Mercantile Exchange was $74.14 a barrel, up $0.20 or 0.3% from the previous trading day, with a trading range of 72 27 dollars; The September 2018 futures settlement price of Brent crude oil on the London Intercontinental Exchange was $77.76 a barrel, up $0.46 or 0.6% from the previous trading day, with a trading range of 76 55 dollars. China crude oil sc1809 fell 0.7 to 501.9 yuan/barrel; Overnight trading fell 4.6 to 497.3 yuan/barrel, down 1.01%

last weekend, US President trump called on Saudi Arabia to increase crude oil production to curb the rapid rise in oil prices. On Tuesday, Saudi Arabia expressed its willingness to use spare capacity to increase oil market supply. Saudi Arabia's average daily crude oil production capacity is about 12million barrels. Analysts believe that Saudi Arabia will add lubricating oil to the moving parts of the experimental machine before starting the machine, and the crude oil supply will increase to 10.8 million barrels in July

analysts estimate that the electronic tensile testing machine is widely used at present, and the U.S. crude oil inventory continues to decline. The 10 analysts and traders surveyed by Wall Street estimated on average that the U.S. crude oil inventory had decreased by 3.9 million barrels in the week ended June 29, of which 10 analysts estimated that the U.S. crude oil inventory had decreased, with estimates ranging from a decrease of 800000 barrels to a decrease of 7million barrels. S & P Platts estimates that U.S. crude oil inventories decreased by 4.5 million barrels, gasoline inventories decreased by 2.5 million barrels, and distillate oil inventories decreased by 250000 barrels

after the closing of European and American crude oil futures, the data released by the American Petroleum Institute showed that the U.S. crude oil inventory had decreased by 4.5 million barrels in the week ended June 29, of which the crude oil inventory in Cushing, Oklahoma, which has attracted much market attention, had decreased by 2.6 million barrels, the U.S. gasoline inventory had decreased by 3 million barrels, and the distillate oil inventory had decreased by 400000 barrels in the same period

the U.S. energy information administration will release U.S. oil inventory and demand, as well as import and export, refinery processing volume and other data at 11:00 p.m. Eastern time on Thursday (July 5). Generally speaking, the inventory data released by the U.S. government has a great impact on the market

Reuters showed in a survey that due to the sharp growth of Saudi Arabia's daily crude oil production, OPEC's daily crude oil production increased in June, which means that Saudi Arabia, the world's largest oil exporter, is increasing its crude oil production in compliance with the requirements of the United States and other oil consuming countries. OPEC crude oil production in June was 32.32 million barrels per day, an increase of 320000 barrels per day over that in May, the highest since January 2018

due to the decline of daily crude oil production in Venezuela and the instability of crude oil production in Libya, the fulfillment rate of the production reduction agreement implemented by OPEC since January 2017 is as high as 160%, and the OECD crude oil inventory has fallen below the level of the same period in five years, causing market concerns about supply shortages. Brent crude oil futures once exceeded $80 a barrel, US President trump has been urging Saudi Arabia to increase production to offset the supply shortage caused by the new sanctions against Iran and prevent further increases in oil prices

Tamasvarga, an analyst at PVM, an oil brokerage company, believes that there is great uncertainty in the supply of oil market after entering the second half of the year. According to experience, the oil injection price can easily rise to $100 a barrel, and may fall to $60 a barrel at the end of the year

according to a survey released by Reuters on Friday, Saudi Arabia's crude oil production reached 10.7 million barrels per day in June, close to an all-time high of 10.72 million barrels per day, to fill the supply shortage in Venezuela and other OPEC member states and the expected supply loss in Iran. The fulfillment rate of OPEC production reduction agreement in June decreased to 110% from 167% in May. This means that after Saudi Arabia increased its crude oil production, the daily crude oil production of some OPEC member countries is still lower than the agreed production

Reuters reported that it was clear that Saudi Arabia had increased its daily crude oil production before OPEC held a meeting on June 22 to discuss policies. The survey showed that Saudi Arabia's allies in the Persian Gulf, Kuwait and the United Arab Emirates, did not follow Saudi Arabia in increasing production, and the production of these countries remained stable in June. Other OPEC member countries that increased production in June were Algeria and Iraq. The impact of overhaul work in Algeria's oil fields has decreased, and the export volume of southern Iraq has increased

the survey shows that among the OPEC member countries that have reduced production, some Libyan manufacturers increased by 10 yuan/ton, and the daily output of crude oil decreased the most. Due to the unstable domestic economic situation, the port of Ras lanuf was attacked in mid June, the port of Sidr was closed, and the daily output of Libyan crude oil fell sharply from nearly 1million barrels a day. Nigeria's crude oil supply also fell, and the delay in shipment led to a reduction in crude oil production. The United States renewed sanctions on Iran to prevent some companies from buying Iranian crude oil. After the country's crude oil export volume increased in April and the volume of manufacturing units decreased by 20% in May, it fell in June, so the production may have also declined. In addition, due to the economic crisis, Venezuela's daily output of crude oil has also been further reduced

based on the 2018 production reduction agreement and the changes of OPEC member states, and the production expectations of Nigeria and Libya in 2018, Reuters believes that the target daily output of OPEC crude oil in 2018 is 32.78 million barrels. Therefore, OPEC's actual daily crude oil output is 460000 barrels lower than the target daily output

on Tuesday (July 3), the September futures of Shanghai crude oil futures closed at 503.5 yuan per barrel, up 0.9 yuan or 0.18%; The settlement price was 501.9 yuan per barrel, down 0.7 yuan or 0.14%; Trading range 496 2 yuan. The settlement price of crude oil futures in September is about $75.48 a barrel. All transactions of Shanghai crude oil futures on the same day were 25542, equivalent to 25542 barrels; The position was 37866 hands, an increase of 272 hands. Among them, 255268 main contracts delivered in September 2018 were traded, with 36494 positions, an increase of 218

Copyright © 2011 JIN SHI