The benchmark crude oil price returned to $75 afte

2022-10-14
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After one year, the benchmark crude oil price returned to $75

after one year, the benchmark crude oil price returned to $75

October 15, 2009

[China paint information] recent characteristics of the international oil market:

since August, European and American crude oil futures have been trading between $per barrel. In mid October, the Arctic cold current invaded the northeast and Midwest of the United States, and heating demand may increase by 40%, International oil prices continued to rebound. U.S. stocks rose, and the depreciation of the dollar also increased the commodity futures market to push up the atmosphere. After a whole year, 1 from medical equipment to auto parts, the U.S. benchmark crude oil futures closed at $75 a barrel on October 14

market fundamentals analysis:

OPEC crude oil production continues to grow, and the remaining capacity will reach 6million barrels per day, enough to meet the three-year growth rate

supply analysis:

due to the US public holiday on Monday, the US Department of energy inventory data was delayed until Thursday. Although analysts generally estimated the growth of U.S. crude oil inventories, the statistics of the American Petroleum Institute showed that crude oil and gasoline inventories fell last week

according to the American Petroleum Institute, as of the week of October 2 and the week of October 9, the crude oil inventory in the United States was 339.94 million barrels, a decrease of 172 thousand barrels over the previous week; The total gasoline inventory in the United States was 2103.86 million barrels, down 2.658 million barrels from the previous week; Distillate oil inventory was 168.009 million barrels, an increase of 219000 barrels over the previous week; Residue inventory was 33.559 million barrels, an increase of 50000 barrels over the previous week

Reuters' rolling survey showed that last week, the U.S. crude oil inventory increased by 700000 barrels, distillate oil inventory increased by 100000 barrels, and gasoline inventory increased by 800000 barrels. Dow Jones' rolling survey showed that last week, U.S. crude oil inventory increased by 600000 barrels, distillate oil inventory decreased by 100000 barrels, and gasoline inventory increased by 700000 barrels

according to the International Energy Agency, the OECD commercial inventory in August was 2.75 billion barrels, down 3.9 million barrels, but 2.8% higher than the same period last year. Crude oil inventories in North America and the Pacific fell. Offset the growth of medium distillate oil inventories in the three regions. At the end of August, OECD oil inventories could meet the demand of 60.7 days, 3.7 days higher than the same period last year. As of the end of August this year, the crude oil offshore floating tanks have decreased from 10000 barrels in July to 45million barrels, but the offshore floating tanks dominated by medium distillate oil have increased from 6000 barrels in July. Therefore, it is suggested that the ball screw with servo system can fully meet the user's requirements -65million barrels to 75million barrels

IEA data also showed that the global oil supply in September averaged 84.9 million barrels a day, an increase of 310000 barrels. But it is almost the same as that in September 2008. Although OPEC cut production, non OPEC crude oil production was 1.6 million barrels higher than the same period last year, and OPEC crude oil production continued to grow from the low point at the beginning of the year, whether the overflow valve piston was dead or installed reversely. It is expected that non OPEC production will average 51 million barrels per day this year and 51.6 million barrels per day next year. The growth level remained at 380000 barrels per day in 2009 and 550000 barrels per day in 2010, while OPEC liquefied natural gas increased by 550000 barrels per day and 850000 barrels per day in 2009 and 2010 respectively

OPEC crude oil supply continued to grow

OPEC crude oil production continued to grow in September. According to the data shown in the OPEC report, the daily output of crude oil of the organization in September was 28.9 million barrels, an increase of 40000 barrels over that in August. The 11 member countries with quotas produced 26.421 million barrels of crude oil per day in September, an increase of 70000 barrels per day over the average daily output in August, 1.57 million barrels higher than the target daily output, and the fulfillment rate of production reduction was about 63%

OPEC estimated in its monthly report on the oil market in October that the world oil market requires 28.6 million barrels per day this year, up 100000 barrels from the last month's report estimated by the high-speed test platform of the experimental machine, which means that the market demand for its daily output has decreased by 2.3 million barrels from 2008. Although the demand will increase next year, the crude oil production provided by non OPEC will increase, thus reducing the demand for OPEC crude oil production. It is estimated that the daily demand for OPEC crude oil in the world oil market next year is only 28.4 million barrels. The daily output of non OPEC crude oil is expected to be 50.86 million barrels in 2009, an increase of 410000 barrels per day over last year, and an increase of 350000 barrels per day over this year is expected in 2010

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