In addition to the joint development of Gulf oil by these three countries to prevent the surge in oil prices, the United States has also begun to take actions to keep oil prices down. On Monday, August 20, the US Treasury Department announced that it would sell 0 million barrels of crude oil from the Strategic Petroleum Reserve from 0 to 0. The start of the sale of strategic oil reserves was just before the US financial sanctions against Iran took effect this month. A crude oil trader said that the sale appeared to show that the Trump administrrvp crude oil analysisation was taking measures to curb the rise in oil prices before the sanctions took effect.
According to foreign media reports, the oil fields that play a central role in the prosperity of the US shale oil industry are hitting the upper limit of growth faster than expected. This unexpected development will have a huge impact on the profits of the US energy industry and the global market.
Data from Baker Hughes of Baker Hughes shows that the number of oil rigs operating in African waters has risen to the highest level in two years. Energy Consulting Company Rystad
It is reported that the US Department of Commerce has received more than 70,000 applications for exemptions from US companies. But as of August 20, the Ministry of Commerce has only made a decision on 287 applications. About two-thirds of the applications were approved, but nearly 00 applications were rejected.
Brennock said: My personal view is that it will be difficult for India and other Iranian crude oil buyers to stop importing all Iranian oil. However, after April 4, Iranian crude oil exports will drop significantly.
Platts Energy said that as of the week of May, it is expected that US EIA crude oil inventories will be reduced by 200,000 barrels, US EIA gasoline inventories are expected to be reduced by 2 million barrels, and US EIA refined oil inventories are expected to rvp crude oil analysisbe reduced by 0 million barrels. If the EIA in the evening meets expectations, it will most likely reverse the decline in intraday oil prices and promote a new round of oil price increases.
Foreign Ministry spokesperson Hua Chunying said that the six countries reached a comprehensive agreement with Iran in 205 and submitted it to the UN Security Council for approval, precisely to ensure the peaceful nature of Iran’s nuclear program. The comprehensive agreement provides unprecedented strict supervision and verification measures for the Iranian nuclear program. The most urgent task now is for all parties to proceed from the overall and long-term perspective and continue to earnestly implement and maintain the comprehensive agreement.
Flynn said that even if Iran’s output exceeds OPEC’s quota, the market believes that US sanctions will severely reduce Iran’s supply. Market concerns have supported oil prices. At the same time, energy information provider Genscape showed that crude oil inventories in Cushing, the US crude oil inventory center, have fallen.
Al-Rashidi said that OPEC and other non-OPEC oil-producing countries, including Russia, will discuss whether to extend the oil production reduction agreement to 209 in Vienna two months later. Kuwait is one of six countries responsible for overseeing compliance with the reduction agreement that entered into force in 207.