U.S. crude oil inventories do not include strategic oil reserves

U.S. crude oil inventories do not include strategic oil reserves
By Crude oil trend

U.S. crude oil inventories do not include strategic oil reserves

However, as India's oil demand increases, the 9 million barrels imported from Iran is no longer sufficient, so India imports another 4 million barrels of oil from Saudi Arabia. Saudi Arabia’s current crude oil production is about 50 million barrels per day, while India imports about 25 million barrels of crude oil from Saudi Arabia every month. On the 2nd, foreign media reported that in order to cope with the crude oil supply gap in India after Iran was sanctioned, Saudi Arabia will suU.S. crude oil inventories do not include strategic oil reservespply 4 million barrels of oil to four Indian companies in the month. The four companies are Reliance Industries, Hindustan Petroleum Co., Ltd., Indian Petroleum Corporation, Mangalore Refining and Petrochemical Co., Ltd.

Judging from the current trend of crude oil, the market successfully broke through into the 67-69 shock range after the previous surge, which was also a relatively stable high shock range before this. If the Sino-US trade panic does not further ferment during this period of time Upgrade, perhaps crude oil prices are expected to hit the $70 mark again after the momentum continues to rise, but if the trade panic intensifies, crude oil prices need to be vigilant against the support of $67. This point can be said to be a watershed between long and short crude oil.

The important thing is that gasoline and diesel prices will fall on June 6. As of May 5th, the first working day of this round of refined oil price adjustments, the rate of change in crude oil was negative 77%, corresponding to a reduction of 25 yuan/ton in gasoline and diesel prices, which is equivalent to a decrease of 0.9 yuan/liter in price increase.

Since the international community stopped economic sanctions on Iran, Iran has returned to the ranks of the world's major oil producers. According to OPEC’s statistics, Iran’s proven recoverable crude oil reserves are about 57 billion barrels, with an average daily oil production of about 800,000 barrels. Oil production ranks first among OPEC and accounts for about 4% of global oil supply. Iran currently exports about 2.5 million barrels of oil per day, and most of the deals are made with Asian trading partners.

The above are some of the skills to watch the market, but I still remind investors that they don't need to watch the market all the time. After all, they still need to have a normal work and life, and watch the market all the time, which is easy to operate frequently, and may lose more. I hope investors can speculate on crude oil with a relaxed attitude. Maybe they can perform better and make more profits if they relax!

Mills said that such sneaky behavior allowed Iran to maintain nearly 200,000 barrels of oil per day in the dark. Mills believes that through various strategies to circumvent the impact of US sanctioU.S. crude oil inventories do not include strategic oil reservesns, Iran may maintain its total oil exports at nearly 800,000 barrels per day next year.

The current oil price has already reflected OPEC’s expectation of increasing production by 1 million barrels per day. If it is said that the increase in production is higher than 0 million barrels per day, the decline will be even greater by then. If it is said that it is less than 500,000 barrels/day, Brent oil price can still be supported to 75 US dollars/barrel from now to the end of the year. Li Weiqiang said.

Abstract: According to EIA's latest forecast, the price of Brent crude oil will remain at US$7 in the second half of the year, and the spread between the U.S. and Burundi oil will remain at around US$7 this year and next year. It is estimated that US crude oil production will reach 800,000 barrels per day in 209, and OPEC crude oil production will reach 900,000 barrels per day.