Piazza said that gasoline demand has increased with the arrival of the summer driving peak, and it is expected that the strong domestic crude oil production in the United States will balance with tight demand and exports. However, Bloomberg also pointed out that the growth rate of Permian production has exceeded its pipeline capacity, resulting in the price difference between WTI Houston crude oil and central inland oil prices exceeding $20 a barrel last wNew Mexico crude oil analysiseek. The output and exports of oil refineries on the Gulf Coast will determine whether the oil price spread continues to widen.
According to reports, Saudi Arabia and Russia are ready to increase oil production, while other countries such as Iran and Iraq oppose the increase. Commerzbank’s head of commodity research said that discussions about whether to increase production may not be very interesting.
In addition, India had already imported about 20 million barrels of oil before Iran was sanctioned, and will import 9 million barrels next. India’s largest oil company, Indian Oil Company IOC, will purchase an additional 5 million barrels of Iranian oil, and Mangalore Petrochemical Co., Ltd. will also purchase 2 million barrels in February.
If you are holding long positions, you will want the trend to keep going up-yes, you do. This is a strong desire, and it will drive your thinking to develop in more directions. In the same way, if you are holding a short position or no position, you will hope that the trend will fall.
The road to the United States was no longer accessible, so Canada invested 4.5 billion Canadian dollars to build the oil pipeline to it. Because it is second only to the United States and imports more Canadian oil. Data show that in September this year, refiners purchased 580,000 barrels of Canadian oil, an increase of nearly 50% from the 0.5 million barrels in April.
The camp is very important. Because Saudi Arabia and Russia areNew Mexico crude oil analysis trying to win over more countries to support their proposal to increase production at the June meeting. They may find some allies, but they will face strong opposition from another camp represented by Iran and Venezuela.