North Dakota crude oil prices
In an interview with Bloomberg TV, Sen said that this basically resulted in no excess capacity in the world. At present, not only Iran is the problem, but output in Venezuela, Angola, Libya, and NiNorth Dakota crude oil pricesgeria is also declining. There are many problems in the world oil market.
Goldman Sachs predicts that the core OPEC countries and Russia will increase production by 0 million barrels per day in the second half of this year. Despite the downward pressure that oil-producing countries may increase in production, Goldman Sachs still maintains a bullish outlook for oil prices. The oil price is expected to be US$75/barrel at the end of this year, and there is a risk of peaking at US$85/barrel in the future.
Although the market generally expects that the growth rate of crude oil production in the Permian Basin will slow down, the two major crude oil data prove the increase in shale oil production. API data released this week showed that US crude oil inventories increased by 4 million barrels per day, and total inventories rose to 0.8 billion barrels. In addition, EIA data unexpectedly recorded substantial growth, which greatly eased the oil market’s concerns about supply shortages.
Societe Generale previously stated that there is a 70% chance that the oil sanctions against Iran will be restored in May. The agency said: This will result in an average loss of up to 500,000 barrels of output per day, pushing oil prices up by $0. The bank added that the forecast of a $5 and $0 increase in oil prices has been digested by the market.
In the short term, the 9-8 months grace period specified by the U.S. Treasury Department, buyers affected by U.S. sanctions are mainly European buyers who reduce imports from Iran to 50-00 thousand barrels per day, but they may be filled by Indian buyers. Part of the vacancy, so Iran’s net export loss is basically not much 50-50 thousand barrels/day. Moreover, in the first few months, European refineries may take advantage of the grace period to import heavy Iranian oil suitable for their equipment, leading to a surge in Iranian exports.
Birol said in an interview that due to the lack of North Dakota crude oil priceskey actions by major oil-producing countries, the fourth quarter will face very, very huge challenges. Birol added that Saudi Arabia is capable of pushing crude oil production to a high of 0 million barrels per day and believes that the country will perform its duties.
According to US Secretary of Commerce Ross, the United States has reached an agreement with ZTE to fine ZTE US$ 0 million, of which 400 million will be managed by a third party. ZTE must change its board of directors and management within 0 days. The United States does not want the ZTE incident to have an impact on the US-China tariff negotiations, and stated that the trade negotiations with ZTE and the ZTE incident will not affect each other.
Earlier, the US State Department stated that the United States does not intend to review or cancel the Iran nuclear agreement, but rather to formulate a supplementary agreement. France and the United Kingdom have also confirmed this news. Trump’s subsequent actions on the Iran nuclear agreement will stir up oil. The nerve of the city.
Petroleum experts are increasingly worried that there may be a supply shortage in early 2020 because upstream spending has fallen sharply since 204, and there is a lack of final investment decisions on new projects. Barclays Bank dispelled this concern, saying that the new supply is still large, albeit below the level of 204 years ago.
The Qaidam Basin is one of the most abundant basins in my country in terms of oil and natural gas resources. Since 205 years in 2007, it took 8 years for PetroChina to add up to 800 million tons of proven oil reserves in the basin, which is more than Qinghai Oilfield in 2007. The total proved oil reserves in 52 years ago, the newly-added proven natural gas geological reserves reached 8.4 billion cubic meters.