Yesterday, Bahrain, Saudi Arabia, Egypt and other countries have announced severance with Qatar, triggering investors on the crude oil market and OPEC production agreement concerns.
After breaking the news announcement, due to concerns about the international oil market volatility, oil prices appear short-term rise. But the market calm, oil prices fell. Crude oil prices also stimulated the petrochemical products up, the domestic asphalt, PTA (4772, 10.00, 0.21%) futures afternoon opening were slightly higher. However, both the crude oil, or PTA and other downstream chemicals, volatility is still within the normal range, Qatar off the event on the disk of the direct impact is relatively limited.Sodium Molybdate
Oil prices did not skyrocket
“The severance incident itself is a geopolitical factor, and the above countries are the Middle East oil-producing countries, which may lead to market concerns about changes in OPEC commitment to change.” An Xunsi crude oil researcher Li Li pointed out that the current crude oil prices in the shock interval The operation of the event, the impact of the event still need to observe whether there is an expansion of the trend, the short-term market is still based on news fried.
Russian Permanent Representative to Vienna International Organization Voron Kofu said that the situation caused by many countries with the Qatar interchange should not affect OPEC and non-OPEC national oil reduction agreement. “As for the agreement, this document is not political but economic tendencies, so I do not think it will have a certain impact on the implementation of the agreement.This is a multilateral agreement, and not all countries are separated from Qatar, I think, will not What ‘s the big change.
Zhuo record information analyst Zhu Guangming that Qatar’s crude oil production and production share is very small, and the key contradiction is not around the start of crude oil, the market is not worried about long, the oil market will not be a big fluctuation, at this stage The trend of crude oil will not change.
Zhu Guangming that Qatar’s share of production is small. Qatar’s production share of 30,000 barrels / day, compared to OPEC countries cut 1.2 million barrels / day, can be said to contribute little. Even if Qatar unilaterally torn down the production agreement, the impact on the oil market will not be reflected in the output, but more to other countries to comply with the contract to reduce the degree and confidence greatly reduced the uncertainty of the market. And this result is now unlikely to appear, because OPEC cut the country has the same goal – to reduce production down stocks, boost oil prices.Bacillus thuringiensis
US oil wells are the key
Some analysts have pointed out that in the history of the Middle East, breaking the incident is not uncommon, can not lift the big waves, because the Saudi government often engage in diplomatic “big move” out. Last year, in the process of achieving a cut-off agreement, Saudi Arabia and Iran broke down because of conflicts of interest. Crude oil production in these two countries ranks first and third in OPEC countries. While the oil prices at the time although there was a certain fluctuation, but did not have a long-term impact on oil prices. The two countries then shook hands and jointly promoted the achievement of the cut-off agreement.Chitosan oligosaccharide
The industry said the current decision to oil prices more important factors in the United States, rather than the Middle East. Trump Announces US Exit from the Paris Agreement The market is concerned that US crude oil production may grow faster than it is now. At present, the US energy companies for the 20th consecutive week to increase the number of active rigs, shale oil wells rapid growth so that oil prices rose space is locked. Oil service company Baker Hughes on Friday released the report shows that as of June 2 the week, the US active oil rig increased by 11 to 733, the most in April 2015. This is more than twice the same period last year, when the number of active rigs was only 325.
It is noteworthy that, with the number of oil drilling rigs up, US oil production rose nearly 10% over the same period last year. As of May 26 the week, the US EIA oil production increased by 2.2 million barrels / day to 934.2 million barrels of 21-month high, repeatedly refresh the output since August 2015 record, with the peak 960 million barrels / day gap Less than 3%. Consultants Rystad Energy cited oil production changes lagging behind the history of the number of rigs, saying that the end of this year’s US oil production will be on the 10 million barrels / day mark, approaching Saudi Arabia and Russia’s daily output.http://www.lubonchem.com