Why did crude oil prices fall

Why did crude oil prices fall

Today's crude oil price has recorded two consecutive positives on the daily line. The API monthly report shows that the US crude oil demand in May hit the highest yearWhy did crude oil prices fall-on-year period. This indicates that the supply and demand relationship in the crude oil market is balanced. Oil prices are expected to stop falling and rebound and record daily rising.

A warm reminder from China Petroleum Finance Network, all investment industries are risk and asset management industries, investors need to accumulate a certain amount of trading skills or various trading strategies, from practice and experience, combined with a good investment mentality, and strict The implementation of these strategies is expected to achieve a stable profit model.

In fact, when the oil price is at US$5/barrel, it almost reaches the production cost of American shale oil producers. With oil prices approaching a high of $70, producers may expand production capacity in order to increase profits, which may set the stage for the next plunge in oil prices.

After the United States withdrew from the Iran nuclear agreement, it announced that it would restart sanctions against Iran, including the oil embargo. Rouhani hinted earlier this month that if oil exports are blocked by the United States, Iran will block the Strait of Hormuz to cut off oil transportation lines in the Middle East, which will affect about a third of the world's seaborne oil trade.

In early July, Russian crude oil production has increased from 060,000 barrels/day in June to 10,000 barrels/day, an increase of 10,000 barrels/day. Russian Minister of Energy Alexander Lunovak Alexander

According to customs data, in the first half of this year, the import volume of oil was 4.5 billion tons, ranking first in the world. Among them, imported crude oil was 2.5 billion tons, an increase of 8%Why did crude oil prices fall; imported refined oil was 6.49 million tons, an increase of 7%. Wood Mackenzie, an energy consulting firm, said that as alternative energy sources such as electricity and natural gas are replacing gasoline and diesel, and more efficient freight systems and transportation fleets will lead to a sluggish demand for road diesel, it is expected to be between 2024 and 205. The growth in oil demand will decline.