U.S. crude oil import data
1/28/2021

U.S. crude oil import data

By Crude oil market dynamics

Why is the expansion of offshore crude oil inventories worrying? Because once the futures premium structure collapses and oil storage becomes unprofitable, these floatiU.S. crude oil import datang crude oils will flood the market on a large scale or cause oil prices to collapse again. Deutsche Bank analyst Hughes Michael

Zanganeh said that he does not believe that the parties can reach an agreement to allow the group to increase production. A representative said that Russia and Saudi Arabia and other oil-producing countries continue to hold talks on four possibilities, including the possibility of increasing production by 0 million barrels, 500,000 barrels and 800,000 barrels per day.

Platts Energy Information quoted Gulf officials as saying that Saudi oil ministers will meet with Kuwait and UAE oil ministers on Saturday to discuss the increase in oil supply; Saudi Arabia is still waiting for a final decision to stop production cuts, but this is likely to come true. .

Venezuela's crude oil production has fallen sharply due to the turmoil and the financial crisis. The latest news shows that the country's national oil company is considering announcing that some export terminals have been forced to close due to force majeure. It is believed that this will boost oil prices.

CNPC News, June 2 Recently, WTI crude oil prices have been fluctuating. With the continuous growth of U.S. shale oil production, WTI crude oil prices have continued to be under pressure. Foreign media reported that within two weeks, the eight major oil producers in the Permian region In total, the market value has evaporated by about $5.6 billion.

The macd indicator in the figure has shown that the fast and slow lines have closed and flattened, but it is bU.S. crude oil import dataelow the zero axis, and the green kinetic energy is continuously shrinking. Although the market is weak, there may be no signs of expanding the decline for the time being. At the same time, the trend of the kdj third line has also begun to remain stable. It seems that various indicators are waiting for OPEC this week to drop the hammer that determines the fate of crude oil.