Middle East Crude Oil Market

Middle East Crude Oil Market

The current crude oil market is full of uncertainty, and there are too many variables in the supply issue. Analysts believe that oil price fluctuations are irregular. The main driving factors include: Trump administration sanctions may prevent Iranian oil from entering the international market; China and the United States Trade tensions continue to ferment; OPEC has decided to increase production; VenezuelaMiddle East Crude Oil Market's oil production has fallen. US officials are considering using domestic emergency oil reserves to prevent oil prices from rising again.

British Columbia is the westernmost coastal province of Canada. Its economy mainly relies on mining, service, forestry, education and other industries, while the petroleum industry is minimal. For the Trans-Mountain oil pipeline expansion project, the British Columbia government somewhat supports it. After the project starts, it can not only increase employment positions, but also increase fiscal revenue, why not?

Warm reminder from China Petroleum Financial Network: On Wednesday, April 8th, at 22:00 Beijing time, the US EIA crude oil inventory will be announced. The market is expected to increase by 60,000 barrels, and the previous value will increase by 6,000 barrels. Refined oil inventories fell by 580,000 barrels, the previous value decreased by 040,000 barrels, gasoline inventories decreased by 50,000 barrels, and the previous value increased by 480,000 barrels.

Canada’s largest oil buyer is the United States, and Canada’s oil production is still increasing, and is currently facing an oversupply problem. If you really lose the US market, the result can be imagined. What Canada can do now is to make a correct statement and get closer to the market in order to get rid of the constraints of the US market.

At 2 o'clock in the morning today, the United States once again announced its withdrawal from the Iran nuclear agreement and reimposed sanctions on Iran. However, the Iranian side seemed very calm and did not immediately announce its withdrawal from the agreement and pick up nuclear weapons, but stayed in the agreement temporarily. This has temporarily stabilized the situation in the Middle East that was supposed to break out. So why did the United States withdraw from the Iran nuclear agreement? What is the response of all walks of life? How will Iran respond in the future?

Li Yan, an oil product analyst at Longzhong Information, said that although international crude oil prices continued to rise during this cycle, the average international oil price linked to it is still difficult to exceed $40 per barrel, so there is a high probability that the protection mechanismMiddle East Crude Oil Market will be triggered this time without adjustment.