The hottest international oil price is not consume

2022-08-18
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Low consumption of international oil prices OPEC crude oil fell to the lowest level in 17 weeks

low consumption of international oil prices OPEC crude oil fell to the lowest level in 17 weeks

April 16, 2013

[China paint information] the data released by the Secretariat of the organization of Petroleum Exporting Countries (OPEC) on April 15 can also tolerate organic solvent dissolution to a certain extent. According to the data, the average price of the OPEC market surveillance crude oil package fell by $3.57 last week, To $102.28 a barrel, the lowest level in 17 weeks

according to Kuwait's mainstream media "torch news" on April 15, Kuwait's oil minister Hani Hussein told the media on the 14th that the international oil price will fall to $90 per barrel this year. On the same day, the "middle east economy" station wrote that due to the continued sluggish economic recovery of major Western economies, the international oil market appeared "sluggish consumption", resulting in lower oil prices, and this low price situation caused by the disconnect between supply and demand will continue for a long time

Hani Hussain believes that there are two main reasons for the decline in international oil prices: first, the developed countries in Europe and the United States have insufficient economic recovery power, frequent financial crises, and their main economic data do not meet expectations, resulting in a decline in the demand for oil, thereby lowering the international oil price; Second, since the middle of 2012, the international oil consumption market has increased by less than 800000 barrels per day, and the national oil production of non OPEC member countries can meet the demand

the monthly report on the international oil market released by OPEC on April 10 also pointed out that in recent times, due to the "disappointing" performance of many data in the international crude oil market, OPEC has lowered the growth expectation of global crude oil demand in 2013 from the original daily average of 840000 barrels to 800000 barrels. Affected by the weak economic growth in western countries, European oil demand has fallen for 18 consecutive months

"middle east economy" station said in an article on April 15 that international oil prices will be at a "low level" for a considerable period of time in the future

the article believes that the current pattern of oil price decline is under the strict sanctions of western countries represented by the United States. As a pivotal member of OPEC, if Iranian oil can be exported normally, the international oil price will fall further. The article calls on OPEC member states to keep the current oil production unchanged for the sake of their own and collective interests, and do not easily take measures such as increasing production, so as not to break the "established quota" and "balanced layout of interests", thereby contributing to the continued decline of international oil prices

Egypt's Le Monde today wrote on April 15 that it is "too early" to assert that this year's oil price will continue to fall, because there are still some uncertain factors that will affect and restrict the trend of oil prices, such as the economic recovery of major Western economies, the tacit actions of OPEC member States to reduce production and increase prices The extent to which emerging market countries have further strong demand for oil and the market panic over the geopolitical factors of instability in the Middle East will, to a certain extent and on a large scale, contribute to the rise of international oil prices

according to the "middle east economy" station on April 1, the shoulder riding method, also known as the parallel method, 5. On that day, the price of Brent crude oil was $103.11/barrel, and WTI crude oil was only $90.66/barrel. According to the report, "according to this trend, this price will be further sold, and the price will fall by 10 cents.". However, the normal operation of international oil prices at relatively low prices is "good news" for the world economy to get out of the shadow of stagnation and gradually move towards recovery, because it can reduce the cost of economic operation, thus contributing to the "recovery" of the global economy

Lin Boqiang, director of the China energy economy research center of Xiamen University, said in an interview with this newspaper that the current general situation of the international crude oil market is adequate supply and weak demand, and the basic trend is weaker oil prices. However, emergencies have a significant impact on crude oil prices. Therefore, it is difficult to simply predict the future trend of international crude oil prices, and past experience has proved that wrong predictions are often more than wrong ones. There are various signs that the era of stable international oil prices may be over, and consumers will face frequent sharp fluctuations in international oil prices in the future. As China's refined oil price mechanism will have the characteristics of "faster", "more timely" and "greater adjustment range" to international oil price fluctuations, domestic consumers need to slowly adapt to frequent price adjustments

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