Specific data show that the number of initial claims for unemployment benefits in the United States as of June 2 increased by 220,000, which was less than the expected increase of 250,000. The unexpected drop in the number of initial jobless claims in the United States last week indicateCrude oil contract sized that labor market conditions have further tightened and the labor market is close to or in a state of full employment. This year's unemployment rate has dropped by ten percent. The current unemployment rate has reached the year-end level expected by the Federal Reserve.
Fortunately, the international oil market is facing a situation of oversupply, and the downturn in the global economic market has also led to sluggish growth in demand for crude oil. At the same time, the shale oil production in the United States continues to increase, which makes it difficult for international oil prices to rise, increases the possibility of a continued decline in the week, and reduces the probability of stranded refined oil prices to a low point.
The improvement in the relations between India and Iran is largely due to the oil-related interests between the two countries. Since Iran’s sanctions were lifted in early 206, Iran hopes to regain its market share in India and the entire Asia-Pacific region, so it is rapidly increasing oil production.
Saudi Arabia will eventually become the biggest beneficiary in this incident. Any sanctions imposed by the United States on Iran will push up oil prices, and Saudi Arabia hopes that oil prices will rise for a period of time. The United States and Saudi Arabia also seem to have reached some kind of agreement. If Washington fights against Iran, Saudi Arabia will step in to prevent a surge in crude oil prices.
Under this common philosophy, the loss is to maximize the effort, the profit is to minimize the direction. This mode of operation is repeated, no matter how long the operation is, it is a loss. And any technology and theory will be used to guide the most efficient loss of money.
Saudi Arabia will not let oil prices rise to 00, because they listen to TrCrude oil contract sizeump. The Wall Street Journal quoted Kuwaiti oil officials as saying. Trump said on Twitter on April 20 that oil prices are artificially too high now! There is no benefit and cannot be accepted!
In general, the editor of China Oil.com believes that the market is likely to have a tight supply of crude oil, and it is only a matter of time before the international oil price rises to $80. The next round of domestic refined oil price adjustments will also be affected by this with a high probability of rising.
According to IEA estimates, OPEC and its allies can use about 400,000 barrels of idle oil production capacity for emergency, most of which are in the hands of Saudi Arabia. If the increase in production reached by the OPEC meeting last week is implemented by 0 million barrels per day, and Saudi Arabia’s production is increased to a record-breaking 0.8 million barrels per day next month, about 40% of idle capacity has been consumed, and the emergency capacity available globally will be Only about 6% of the global supply is left. Taking into account the production status of Libya and Venezuela, this emergency reserve is quite dangerous. Many investment banks have raised their oil price expectations on the grounds of insufficient idle capacity.