In addition, US President Trump will also participate in the G20 meeting next week. With the continued increase in US crude oil inventories and TrumpIce crude oil contract's support for low oil prices, will Trump continue to speak up and make crude oil prices suffer from the black swan market?
In addition to the fall in temperature, the terminal market demand is expected to decline, the main unit shipments are under pressure, and the transaction area is mostly maintained with a large volume of preferential policies. As the end of the month approaches, the sales task is not completed well, the market decline is difficult to reverse, and the downward revision of refined oil products is expected to increase. Strongly, domestic oil prices will show a steady decline.
According to PetroChina, oil and gas fields of 10 million tons have been built in Aktobe in Kazakhstan, Halfaya in Iraq, and Amu Darya, as well as more than 0 oil and gas fields of 2 million tons. At the same time, Venezuela’s MPE and other 10-million-ton oil and gas projects are under continuous construction.
Asgarolradi, chairman of the Iran-China Chamber of Commerce, recently stated that the trade issue with Iranian companies has been resolved. Starting from February 2nd, banks will start settlement business with Iranian banks. And, in February, it will also announce that another bank will cooperate with Iran to facilitate the import of Iranian oil.
Mexico is rich in oil resources, but lacks oil production and refining capacity. Fuel products rely on imports, and most of them are imported from the neighboring United States. Lopez said that the reason for not importing from the United States is not because of the trade dispute between the two countries, but to improve the country's oil production capacity.
A major tax reform in the Russian crude oil industry will be implemented, which may put pressure on major crude oil companies, and refineries will suffer the most obvious impact, because this reform wilIce crude oil contractl increase the tax burden on downstream, but upstream sectors can see Taxation shifted from based on output to based on profit.
The United States will impose financial sanctions on Iran on August 6. As the date of sanctions gets closer and closer, the Iranian people are worried about the deepening of the economic crisis. Iranian people are speeding up buying dollars in the black market, pushing the country's black market exchange rate to record lows. The U.S. dollar against the rial surged to 00000 on Sunday, reaching a record high. The last time a similar situation occurred was 6 years ago.
According to data released by Hughes on Friday, June 22, as of the week of June 22, the number of active oil wells in the United States decreased to 862, which was the first decline after two consecutive weeks of increase. So far this month, the number of active oil rigs in the United States has only increased, which is the smallest monthly increase since the decrease of 2 in the month, confirming analysts’ view that the potential for increasing the number of active oil rigs in the United States has been exhausted. Nevertheless, the U.S. Energy Information Administration EIA issued a report earlier that it is expected that the U.S. shale oil production in July will increase by 10,000 barrels/day to 740,000 barrels/day, which is 80,000 barrels/day higher than in June.
Patterson said that oil prices have maintained an upward trend, which largely reflects Iran’s risk premium. When will we see Iran’s supply affected? Patterson also pointed out that OPEC’s supply has increased, but we have not seen Iran’s supply. obviously decrease.
Recently, the four major foreign-funded gas stations in China stated that they will add 200 foreign-funded gas stations soon. Among them, Shell is expected to increase by 2,200 in 7 years; BP is expected to increase by 2,000 in 5 years, Total and Mobil have not yet determined.