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Multiple factors push up global oil prices

 Last Update: 2021-09-28
 Source: Internet
 Author: User

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Recently, as the market predicts that US commercial crude oil inventories will continue to decline, the financial market’s hedging demand has fallen, and international oil prices have risen slightly on the 21st

Survey data released by S&P Global Platts on the 21st showed that the oversupply caused by the epidemic continued to decrease, and more refineries affected by Hurricane Ida began to resume production.

Some analysts pointed out that OPEC and its production reduction partner countries reported that the implementation rate of 116% of production cuts in August was also positive for oil prices

It is reported that Nigeria, Angola and Kazakhstan and other OPEC member states have been having difficulty increasing production in recent months due to years of insufficient investment and delays in large-scale maintenance work due to the epidemic

The recent monthly crude oil report released by the International Energy Agency shows that the spread of the Delta strain is still putting pressure on global crude oil demand, but the current epidemic situation in many countries shows an optimistic side

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