According to EU diplomats, things did not go as smoothly as imagined. Because this system can only complete the construction of laws and regulations before the United States imposes sanctions on Iran, and it will have to wait until early next year to actually operate. Another is that the office location of this special purpose company has not yet been determined. There are so many countriesCrude oil market capital in Europe, but no country is willing to provide office locations because everyone is afraid of being implicated and being retaliated by the United States. In the end, it is still uncertain whether this system will really help Iran evade sanctions.
Sen said that if OPEC decides to increase its daily output by more than 600,000 barrels, oil prices will fall sharply. However, it is worth noting that raising the production ceiling may not necessarily lead to a corresponding increase in production, because many oil-producing countries cannot increase production.
Aspects chief oil analyst Amrita Sen told CNBC last week that sanctions would reduce Iran’s oil production by 200,000 barrels per day to 500,000 barrels per day.
Analysts said that the increase in supply from several major oil-producing countries is not enough to fill the gap between supply and demand that has emerged in the past year and a half. Approximately eight months have passed since OPEC and its allies implemented the production reduction agreement. There has been a very large gap between supply and demand in the past eight months. Although OPEC and its allies have begun to increase production, the huge gap between supply and demand cannot be equalized in a short while.
However, given that the price of Brent crude oil is around US$76 per barrel, the price of crude oil has risen by nearly 75% since mid-207. Despite the strong fundamentals of the global economy, the demand for road fuel is still suppressed.
Although drilling data does not have a major impact on the trend of crude oil, the name of the small EIA is not a false name. Therefore, natural factors such as forestCrude oil market capital fires or earthquakes will destroy the number of wells or oil pipelines will cause crude oil to soar. The drilling data released early on Saturday morning is still a big positive value, which is negative for crude oil.
If Trump really tears up the Iran nuclear agreement and detonates the entire Middle East situation, Venezuela believes that it will also be greatly affected. The entire Middle East situation will usher in earth-shaking changes due to the torn up of the Iran nuclear agreement. For crude oil prices, it may be A period of long-lasting rising prices. This may mean that crude oil will start another bull market this year.