Goldman Sachs believes that the oil market has reached a rebalance and demand will increase in the future. Goldman Sachs believes that the rebalance of the oil market has actually oThe largest international crude oil producerccurred, six months earlier than expected. Goldman Sachs also believes that oil demand will continue to grow, OPEC member countries will stick to the agreement to cut production, while Venezuela's crude oil production has seen a spiral decline, and the country is mired in an economic crisis.
Canada is actually a major oil country, with proven oil reserves of 7 billion barrels, ranking second in the world after Venezuela and Saudi Arabia. At the same time, Canada's oil production ranks fifth in the world. According to the Canadian National Energy Commission’s forecast, the country’s daily crude oil production averages 420 barrels. Although the largest importer of Canadian oil is the United States, due to the vast market, Canada once wanted to shift its export market.
Crude oil prices have been supported by steady demand and voluntary production cuts in oil-producing countries led by OPEC, but analysts said that the oil market is still largely affected by public policy events and statements.
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The most likely scenario: OPEC’s daily output increased by 500,000 barrels, Russia’s daily output increased by 0 million barrels, and the total daily output increased by 600,000 barrels; the British "Financial Times" also stated that an increase of 600,000 barrels is the most likely option.
They further stated that in the second quarter of 209, Brent crude oil will first rise to $90/barrel, but as the situation in Iran further deteriorates,The largest international crude oil producer it will push the price of Brent crude oil to reach the set target.