In recent days for the driver friends described as a “spirit of cool people every happy event,” not against his car Konghan every day, “Come duck”, even said: “!!! Big mouth and drink drink drink 98” that’s why all the blame: oil prices return to 5 times!
is turned off before the time, the oil in Beijing, for example, gasoline 92 reaches 5.5 yuan / L, the gasoline reaches 95 5.86 yuan / liter, about 98 gasoline reaches 6.84 yuan / L, a reduction of about 0.8 yuan per liter. At the same time car owners across the country have feedback No. 92 gasoline in some areas in order to return to the age of 4, like Ben & Poor’s great!
As we all know, China’s oil price of international crude oil price impact, and these days can be described as international crude oil prices plummeted all the way, has fallen below the regulatory limit of 40 dollars per barrel in closing March 28, has reached $ 24.93 a barrel on April 3, it has reached $ 20.48 a barrel.
Most consumers believe that the drop in oil prices is affected by the epidemic, demand is not as strong, resulting in crude oil prices generally fall. But the real cause is not the case, of course, the epidemic occupy a certain factor, but not the main reason.
Commenting on the fall in crude oil, we must mention three countries: Saudi Arabia, Russia and the United States. Timeline back to 2016, the International Organization of Petroleum Exporting OPEC (OPEC), Saudi Arabia and other countries leading oil producing countries of Russia signed an oil production agreement, mutual agreement will reduce the capacity to maintain a certain profit.
three years later, the production does play a role in OPEC and Russia have oil net revenue growth the percentage of 30. To negotiate a new round of production cuts agreement, things did not imagine so smooth ……
March 6, the Russian authorities refused to direct the OPEC-led150 million barrels / day production agreement, the same day oil prices drop, its biggest one-day drop since 2014.
Of course, it will also cause the “oil industry boss” Saudi Arabia dissatisfaction is bound to beat up Russia. Four days later, Saudi Arabia announced that it would increase crude oil production from the current 970 million barrels / day significantly to 1230 million barrels / day, and even the future may increase production capacity to 13 million barrels / day, and stressed that all OPEC will maintain or even increase market share, appropriate to provide a discount of $ 4-8.
reciprocity, in direct response to the Russian side has the ability to increase production by 500,000 barrels / day to a record 1180 million barrels /day. In this way, market competition between the two sides led to international crude oil prices fell sharply, only on March 9 percentage will decline to 24.59, and the release of a large number of unstable signal.
both of you come to me, we could have been together, “rich”, but both own ax to grind, do not want their market share is occupied. At this time, another unrest has emerged – the United States.
Russia does not agree to cut production after part of the reason from the United States, from the United States to improve the development of shale oil technology, the existing production capacity there has been explosive growth. According to the US Energy Information Administration (EIA) show that since 2014, US oil production increased 34 percentage every year, 2019 has reached 12.5 million barrels / day, to become a major net exporter of oil in the world.
Therefore, dogs fight, play off, while Russia fears the United States is the “Fisherman” . Although the US shale oil extraction technology is well established, but cost more than $ 45 per barrel, while the cost of Russia and Saudi Arabia and other countries are about $ 19 and $ 800, so the price increase in favor of blocking the US oil and gas company.
In general, the various major powers do not want to own crude oil production market share to rivals plundered, but also to maintain a budget price increase found, they have treachery in exchange for oil prices good situation. At the same time affected by the epidemic, a substantial decline in demand for crude oil, the market is expected investment is not ideal, so they are presented daily in the crash sight.