-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
- Cosmetic Ingredient
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
According to Agence France-Presse, on June 1, local time, the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC oil-producing countries reiterated to increase oil production as originally planned.
OPEC issued an announcement on the 1st that the ministerial meeting of OPEC and non-OPEC oil-producing countries held that day reaffirmed the commitment of major oil-producing countries to market stability and reduced production by 2 million barrels per day from May to July.
Decision, and the production adjustment decision in July.
According to the agreement reached by OPEC and non-OPEC oil-producing countries in early April this year, the average daily crude oil production of the reduced countries will increase by 350,000 barrels in May and June, and 450,000 barrels in July.
After the impact of the epidemic last year caused a sharp drop in demand, the major oil-producing countries decided to reduce production by 9.
7 million barrels per day.
Saudi Energy Minister Abdul Aziz bin Salman said in a speech that there are obvious signs of improvement in crude oil demand, crude oil inventories are falling back to the average level from 2015 to 2019, and global vaccination will restore balance to the oil market status.
OPEC should actively stabilize the oil market.
Russian Deputy Prime Minister Novak pointed out that oil-producing countries will discuss production prospects and the oil market, and our cooperation will benefit the global market.
OPEC Secretary General Barkindo said that forecasts continue to show a positive trajectory for economic and oil demand growth, especially in the second half of 2021, when global oil demand will exceed 99 million barrels per day in the fourth quarter.
As Iran’s crude oil exports may increase significantly due to another agreement between Iran and the United States on the nuclear issue, this is the main bearish issue facing the crude oil market in recent months.
Agence France-Presse said that if Iran can return to export levels three years ago, this may mean that 1.
International crude oil futures prices rose significantly on the 1st, and Brent crude oil futures prices broke through the $70 per barrel integer mark for the first time since the end of May 2019.
"Financial Times" quoted some traders as saying that the introduction of vaccines and government stimulus measures increased oil demand, which pushed crude oil prices up 35% since the end of last year.
