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Europe and the United States eased epidemic restrictions to boost energy demand, crude oil revenue rose to a new high in more than two months
Time of Update: 2021-07-20
Oanda market analyst Sophie Griffiths said in a report: "Investors this week are still focusing on optimism related to the economic restart, hoping that the relaxation of blockade restrictions in the United States and Europe will lead to an increase in fuel demand.
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OPEC maintains its forecast of 6 million barrels/day of crude oil demand growth in 2021
Time of Update: 2021-07-20
The document also shows that OPEC expects that from September to December this year, crude oil inventories will fall by more than 2 million barrels per day .
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Iran intends to expand oil exports
Time of Update: 2021-07-20
According to news on May 17, Iranian government officials said that as the nuclear agreement negotiations with the United States continue to make progress, Iran is preparing to increase crude oil production and exports .
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U.S. shale oil production in June will increase for the first time in three months
Time of Update: 2021-07-20
S. Energy Information Administration (EIA) said in its monthly estimate report on Monday that the shale oil production of the seven major shale blocks in the United States in June is expected to climb 26,000 barrels per day, within three months.
In the Beacon block, shale oil production is expected to decline by about 7,000 barrels per day to 1.
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OPEC's May production increase promotes a moderate production recovery plan
Time of Update: 2021-07-20
Nevertheless, the aforementioned Saudi Energy Minister is unwilling to disclose whether OPEC will resume more idle supply after the current production increase phase ends in July .
OPEC, which consists of 23 countries, is recovering a daily output of slightly more than 2 million barrels by the end of July .
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Saudi Arabia cuts the official price of crude oil sold in Asia in June to the first drop since December last year
Time of Update: 2021-07-20
According to sources, Saudi Arabia lowered the official price of its flagship product, Arabian Light Crude Oil, sold in Asia in June by US$0.
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The CEO of Rosneft said that the promotion of green energy will lead to long-term oil supply shortages
Time of Update: 2021-07-20
Foreign news agency news on June 5th, Rosneft CEO Igor Sechin said on Saturday that the world has been facing severe oil shortages for a long time due to insufficient investment in the promotion of alternative energy sources, while the demand for oil continues to rise .
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International crude oil rises, main gasoline and diesel refining steadily, gasoline and diesel fall
Time of Update: 2021-07-20
slight decline in gasoline prices is not only due to the international crude oil prices, but also related to the state's regulation of commodity prices .
At present, international crude oil may rise, but national regulation may cause domestic gasoline prices to fall slightly .
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Oil prices rise amid OPEC+ optimism
Time of Update: 2021-07-20
OPEC expects that although the new crown pneumonia outbreak in India and other countries has dragged down short-term demand prospects, the global economy will continue to recover strongly this year .
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EIA: U.S. commercial crude oil inventories fell by 5.241 million barrels in the last week
Time of Update: 2021-07-20
domestic crude oil production increased by 200,000 barrels to 11 million barrels per day ;
United States last week Crude oil exports increased by 387,000 barrels per day to 2.
The increase in EIA gasoline inventories this week was the largest since the week of April 3, 2020 .
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Citi: Raises Brent crude oil price estimates for this year and next
Time of Update: 2021-07-20
Citigroup expects that the average price of Brent crude oil will be US$77 per barrel in the third quarter of this year and US$78 per barrel in the fourth quarter, up US$4 and US$9 respectively from the previous valuation .
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Libyan National Petroleum Company lifts the force majeure of Hariga port export business
Time of Update: 2021-07-20
The Arabian Gulf Oil Company (AGOCO), a subsidiary of the Libyan National Oil Company, which operates Hariga Port, said this month that it was suspending production because it had not received any government funds since September last year .
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Novak: OPEC team confirms the oil production level reached earlier
Time of Update: 2021-07-20
Novak also said that the OPEC ministerial meeting will be held on June 1, when ministers will consider July and August production levels .
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Baker Hughes: The number of US oil and gas rigs increases for the second consecutive week
Time of Update: 2021-07-20
US oil service company Baker Hughes said in a closely watched report on Friday that as of the week of May 7, the number of active oil and gas rigs in the United States increased by 8 to 448, as the leading indicator of future production.
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Russia's oil shipments from western ports on June 1-10 are expected to increase by 7% from the previous month
Time of Update: 2021-07-20
According to news on May 20, the preliminary shipment schedule showed that Russia plans to increase the number of shipments from its western ports-Primorsk, Ust-Luga and Silla on June 1-10.
Ural oil exports from the ports of Primorsk and Ustluga are expected to be 1.
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Beihai's August CPC mixed crude oil exports expected to be reduced by 20% plan
Time of Update: 2021-07-20
Foreign News reported on July 5 that a plan announced on Monday showed that the export of North Sea CPC mixed crude oil is expected to be 4.
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Indonesia's oil and gas production in 2021 is expected to be lower than initial target
Time of Update: 2021-07-20
Data shows that natural gas production is expected to be 987,000 barrels of oil equivalent per day, which is lower than the official target of 1.
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Severe epidemic, India's crude oil processing volume and oil demand will be frustrated
Time of Update: 2021-07-20
India’s second-largest state-owned refinery company, Bharat Petroleum Corp (BPCL), averaged its operating rate in March It was 118%, 116% in the same period last year, and 127% in February .
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Giants increase their layout and accelerate the expansion of the hydrogen energy industry
Time of Update: 2021-07-19
Domestic vehicle manufacturers represented by the Shanghai Automotive Industry Corporation, Weichai Power and Great Wall Motors, as well as overseas car companies such as Toyota Motor and Hyundai Motor, have long established their presence in the fuel cell vehicle industry.
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Fuling shale gas field: multiple measures to improve the quality of materials
Time of Update: 2021-07-19
The Fuling Supply Department strengthens the docking of demand plans, refines the quality technical requirements, quality control measures and quality acceptance standards in the procurement documents, rejects those that do not meet the requirements, and prevents material quality risks caused by inaccurate material quality standards or technical agreements that are not detailed.
