Crude oil historical price

Crude oil historical price

On the road to the steady operation of the shale oil industry and the external expansion of petroleum and petroleum products, the United States needs a relatively stable and strong oil market environment. However, in terms of counterbalances to resource exporting countries such as Russia and Crude oil historical pricethe Middle East, as well as local energy and economic trends, There is no need for excessively high oil prices, which has led to frequent interventions in the oil market by the United States in recent years. Market analysis believes that the positive and negative factors in the second half of the year are both strong, and coupled with the influence of other uncertain factors such as geological risks, it is expected that the international oil market will tend to consolidate in the second half of the year, and it is more likely that the international oil price will barely firm.

At the end of June, there was a sharp rise in oil prices, because the US government required countries to reduce crude oil exports to Iran to zero before the 4th of the month, and Trump said that there would be no pardons.

A petrochemical trade executive told Reuters that the company would maintain the usual import volume of crude oil shipped in July, but could not promise future purchases. The executive said that future purchases for shipments in August and beyond will depend on the development of the situation. Due to the sensitive topic, the executive requested anonymity.

Therefore, OPEC member countries may begin to change the goal of returning oil inventories to the 5-year average level and re-evaluate. Now, they seem to want to continue cutting production until investment in new upstream projects picks up.

In short, if there are more than 5 of the above 0, you have to be especially vigilant. Of course, it is not ruled out that formal investment companies accumulate customers through beautiful customers, do marketing, and engage in formal transactions. However, it is always good to have multiple minds when people are floating in the rivers and lakes.

On Wednesday, May 2nd, during the night trading hours of crude oil futures, it opened lower and fluctuated. After the release of EIA crude oil inventory data last week, the U.S. crude oil inventory data plunged rapidly, once oversold by nearly 2%, and then gradually Crude oil historical pricerecovered in the shock, and basically recovered daily lows near the close. Decline. On May 2, two people familiar with the matter said that Asia’s largest refiner, Sinopec, plans to increase US crude oil imports to a record high.

Although there are still some uncertainties from the supply side, the increase in oil demand is almost a certainty, and the demand for oil, a raw material, is still strong in various countries. Take the United States as an example. American drivers have a very strong demand for gasoline. Compared with last year during the same period in 208, the average American household will pay more than $200 for car fuel. The increase in demand is also reflected in price vendors. The average price of a gallon of regular gasoline is about $8, an increase of nearly 49 cents over the same period last year.

Oil prices rose after OPEC took the lead in reducing production, which prompted competitors to increase supply. The increase in shale oil production in the United States is particularly typical. OPEC predicts that non-OPEC supply will increase by 860,000 barrels per day this year, which is about 10,000 barrels per day higher than last month’s estimate.