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The Japanese government announced the release of oil reserves
Time of Update: 2023-03-22
The Japanese government announced on November 24 that it would cooperate with the United States' action to release the Strategic Petroleum Reserve to stabilize oil prices, and release the country's excess oil reserves without violating the Oil Reserves Law. Japanese Prime Minister Fumio Kishida said that morning that US President Joe Biden had announced the release of the Strategic Petroleum Reserve.
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Global oil prices fell under pressure from supply and demand
Time of Update: 2023-03-22
According to World Energy on November 23: Oil prices fell on Monday as concerns about oversupply and weak demand were raised by an increase in coronavirus cases in Europe and the possible release of oil reserves in Japan.
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The effect of curbing oil prices is uncertain, and the United States urges Russia to increase production and wait for OPEC+ to act
Time of Update: 2023-03-22
S. traders took a holiday, after the Organization of the Petroleum Exporting Countries (OPEC) said that the planned coordinated release of reserves could exacerbate the oil glut expected early next year, and the market will wait for next week's OPEC+ meeting during the US Thanksgiving.
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Brent crude fell below $80
Time of Update: 2023-03-22
According to the OilNOW website on November 20, crude oil futures fell sharply on November 19 as the market weighed the impact of the new large-scale lockdown in Europe and the strengthening of the dollar, with December WTI closing at $76.
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The renewed epidemic in Europe has caused concern, countries have released oil reserves or landed, and oil prices have hit a seven-week low
Time of Update: 2023-03-22
76 / barrel in nearly seven weeks; Investors weighed the possibility that major economies could release crude oil reserves to cool oil prices and that a surge in coronavirus cases in Europe could slow the economic recovery.
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The progress of the coronavirus may worsen the oil outlook, and oil prices recorded their biggest weekly decline in more than a year
Time of Update: 2023-03-22
Before Biden's announcement of the release of oil reserves, OPEC+ producers have repeatedly ignored calls from the US and other consuming governments to increase crude oil production, while next year's US congressional elections are approaching, and Biden is looking for ways to curb rising inflation.
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U.S. crude inventories unexpectedly increased, with oil prices edged lower to hold steady at $78
Time of Update: 2023-03-22
Some OPEC+ representatives have said that if the release of reserve crude oil by countries such as the United States floods the market, the production increase scheduled for January may be canceled.
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International oil prices fell sharply
Time of Update: 2023-03-22
Last week (the week ending November 19), affected by the worsening of the epidemic in Europe, the re-imposed lockdown measures, the United States' call for major oil consumers to release crude oil reserves, and the expectation that international organizations will turn into excess supply, international oil prices fell for the fourth consecutive week, and fell sharply, WTI oil prices fell 6%, Brent oil prices fell 4%.
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Crude oil shows a wide range of dynamic trends
Time of Update: 2023-03-22
Although the Fed is gradually advancing in tapering bond purchases, the expectation of raising interest rates in advance is strong, the dollar index is rising, and commodity prices are under pressure, but the fundamental support of crude oil during the year is strong, the tight balance pattern remains unchanged, the superimposed inventory is low, the space below is limited, and the future market will be dominated by wide oscillations.
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Global Exploration Outlook to 2050: How to Meet Future Energy Needs?
Time of Update: 2023-03-22
Given the existing sources of unconventional oil and gas supply, as well as the growing momentum for the development of unconventional resources in places such as the Middle East and China, Wise Energy believes that 60% of the new proven reserves required by 2050 will need to be supplied through conventional exploration, equivalent to 210 billion barrels and 300 billion barrels in the average demand scenario and the high demand scenario, respectively.
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The real reason why OPEC+ is reluctant to increase production
Time of Update: 2023-03-22
On Tuesday (November 23), the United States announced the release of its strategic oil reserves, while expressing hope that OPEC+ will continue to increase production by 400,000 bpd per month, as planned in July.
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Many countries have gained and lost a lot of money from releasing oil reserves
Time of Update: 2023-03-22
S. Department of Energy will release 50 million barrels of crude oil from the Strategic Petroleum Reserve to alleviate the supply-demand mismatch and reduce oil prices.
S. Department of Energy will release 50 million barrels of crude oil from the Strategic Petroleum Reserve to alleviate the supply-demand mismatch and reduce oil prices.
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Barclays raised its 2022 Brent crude price forecast to $80
Time of Update: 2023-03-22
In a Reuters report published on Tuesday, Barclays also raised its forecast for the average price of WTI crude in 2022 by $3 to $77 a barrel, as it predicted OPEC+ would not rush to resume all production as planned if the market was oversupplied early next year.
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Oil prices retreated 6 percent this week as concerns about the warming of the epidemic in Europe and the release of crude oil reserves in the United States weighed on oil prices
Time of Update: 2023-03-22
On Saturday (November 20), U. S. oil prices fell from their highs this week. Among them, the price of US crude oil fell by $5. 01 this week, or 6. 21%; Brent crude oil prices fell $3. 29, or 4. 01%, f
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Oil prices have fallen too much and bought in, and bulls still need to be wary of future market worries
Time of Update: 2023-03-21
Russian Deputy Prime Minister Alexander Novak said Monday that Russia did not see the need for urgent action against the oil market over the new Omicron variant, downplaying the possibility of changes to OPEC's oil supply agreement this week.
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Oil prices hit their biggest one-day drop since April 2020 on November 26, WTI fell 13.1%
Time of Update: 2023-03-21
Oil prices plunged $10 a barrel on Friday, the biggest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and heightened fears of a possible increase in oversupply in the first quarter of next year, Reuters reported Nov. 26.
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OPEC+ agrees to maintain production increase plan International oil prices rose on December 2
Time of Update: 2023-03-21
50 a barrel on the New York Mercantile Exchange at the close, while London Brent crude futures for February delivery rose 1.
50 a barrel on the New York Mercantile Exchange at the close, while London Brent crude futures for February delivery rose 1.
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Many countries release crude oil reserves to stabilize oil prices Industry insiders: It may not be easy to reverse the trend in the short term
Time of Update: 2023-03-21
For example, the United States announced that it would release 50 million barrels of strategic crude oil reserves in mid-to-late December, and India, Japan, the United Kingdom, South Korea, etc.
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Analysts say that the Fed is not afraid of reducing its size, and oil prices are expected to rise to $150 after the shadow of the epidemic recedes?
Time of Update: 2023-03-21
Analysts expect oil prices to rise to $150 if the global economy fully opensChristopher Wood, head of global equity strategy at investment bank Jefferies, said oil prices could rise sharply from current levels, possibly reaching $150 a barrel, given the world's heavy reliance on fossil fuels.
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Virus variant threat and Powell's hawkish voice hit oil prices, U.S. oil fell nearly 20% in November
Time of Update: 2023-03-21
On November 30, Moderna's CEO questioned the effectiveness of existing vaccines against the new Omicron variant, and the hawkish speech of Federal Reserve Chairman Jerome Powell later that day, sent the two major crude oil futures plunged 7% at one point.
