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It is difficult for the United States to deter Saudi Arabia and other countries from reducing oil production
Time of Update: 2022-10-25
On October 5, the Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, and non-OPEC oil producers, led by Russia, held their 33rd ministerial meeting in Vienna, Austria, and decided to reduce oil production by an average of 2 million barrels per day from November until December 2023.
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Biden will develop plans to complete the sale of oil from the strategic reserve and stimulate U.S. oil production
Time of Update: 2022-10-25
Foreign news on October 18, a senior US government source said that Biden will continue to sell oil in the Strategic Petroleum Reserve (SPR) until December, and will propose a plan to replenish the strategic reserve at lower than the current price on Wednesday to help fill the current supply gap and promote oil companies to increase production in the future.
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Agency: Oil prices continue to fall
Time of Update: 2022-10-25
Third, data released by the American Petroleum Institute (API) showed that crude oil inventories fell by 1.
Third, data released by the American Petroleum Institute (API) showed that crude oil inventories fell by 1.
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U.S. commercial crude oil inventories fell last week International oil prices rose significantly on October 19
Time of Update: 2022-10-25
Due to the month-on-month decline in US commercial crude oil inventories last week, international crude oil futures prices rose in the overnight market and in the morning of October 19, and the increase in the afternoon of the day expanded significantly, and the late gains narrowed, and international oil prices rose significantly at the close.
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Many countries support Saudi Arabia's oil production cuts, foreign media: The punishment methods listed by US politicians are almost impossible to achieve
Time of Update: 2022-10-25
He said Biden would "methodically" reassess the relationship between the United States and Saudi Arabia, with possible options including halting security aid and arms sales to Riyadh.
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China's exploration and discovery of the first deep-water deep atmospheric field
Time of Update: 2022-10-25
CNOOC announced on the evening of October 19 that it had made another major breakthrough in exploration in the southeastern Qiongdongnan Basin of the southeastern part of Hainan Island, discovered China's first deep-water deep atmospheric field Baodao 21-1, with proven geological reserves exceeding 50 billion cubic meters, achieving the largest breakthrough in the Songnan-Baodao depression in more than half a century, and is a powerful progress in accelerating deep-sea deep exploration.
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Fosun's Roc Oil has made a major exploration breakthrough in the Pearl River Estuary Basin of the South China Sea
Time of Update: 2022-10-25
Hainan Mining, a subsidiary of Fosun, announced today that the exploration well in the 03/33 contract area of the Pearl River Kou Basin in the South China Sea, cooperated by its holding subsidiary Roc Oil and CNOOC, has made a major exploration breakthrough and made important oil and gas discoveries in Paleogene strata.
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UAE Energy Minister: The oil production cut is not politically motivated
Time of Update: 2022-10-25
UAE Energy Minister Mazroui said on October 18 local time that the decision made by the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC oil producers to significantly reduce oil production earlier this month was not politically motivated.
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U.S. leading economic indicators fall International oil prices rose and fell on October 20
Time of Update: 2022-10-25
As the US leading economic indicators in September were weaker than expected, international crude oil futures prices rose in the overnight market, falling significantly after rushing higher in the morning of October 20, consolidating in a narrow range in the afternoon, and closing with mixed international oil prices.
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Russian media: The US strategic oil reserve consumes nearly half
Time of Update: 2022-10-25
According to the report, Biden said in a speech at the White House that there are currently more than 400 million barrels in the US strategic oil reserve.
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Guangdong Petrochemical polypropylene plant granulation and air transmission system is fully connected
Time of Update: 2022-10-20
On October 13, with the 500,000 tons/year polypropylene plant extrusion granulation unit officially feeding and producing qualified pellets, Guangdong Petrochemical Polypropylene Plant production preparation one of the two key paths of extrusion granulation solid material test work completed, 36 days ahead of the planned node.
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Good for oil prices! Experts have spoken out forcefully, saying that OPEC+ production cuts may lead to a shortage of oil supply
Time of Update: 2022-10-20
Despite the volatile global oil and distillate inventory situation, Saudi Arabia just said this week that the decision to cut production was purely economic.
Despite the volatile global oil and distillate inventory situation, Saudi Arabia just said this week that the decision to cut production was purely economic.
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Russian Prime Minister signs a government decree on the creation of a new company to take over "Sakhalin 1"
Time of Update: 2022-10-20
On October 13, the Russian government issued a government decree signed by Prime Minister Mishustin setting up a new company to take over the Far East oil and gas development project "Sakhalin 1", and foreign investors were required to notify Russia whether to agree to join the new company within one month of its establishment.
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Saudi Arabia announces deep cuts in oil production, Biden warns: Saudi Arabia will "bear consequences"
Time of Update: 2022-10-20
" The day before, Bob Menendez, chairman of the US Senate Foreign Relations Committee, urged Biden that the United States must immediately freeze all cooperation with Saudi Arabia, including arms sales.
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US media: decision to cut production annoys the United States Saudi officials deny weaponizing oil
Time of Update: 2022-10-20
According to a CNN website on October 12, Saudi Minister of State for Foreign Affairs Adel al-Jubeir said that Saudi Arabia cooperated with Russia to reduce oil production to stabilize the market, and denied that there was a political motive behind this decision.
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Saudi Arabia's rejection of the US "suspension of oil production reduction plan": it will have a negative impact on the economy
Time of Update: 2022-10-20
The Wall Street Journal of the United States recently quoted news that before the OPEC+ decision was announced, White House officials tried to persuade Saudi Arabia and other oil producers to postpone the production reduction plan for a month to reduce the impact on the US midterm elections, but the Saudi side refused.
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U.S. distillate inventories fell significantly last week International oil prices rose on October 13
Time of Update: 2022-10-20
S. commercial oil inventories rose by 8 million barrels month-on-month last week.
S. commercial oil inventories rose by 8 million barrels month-on-month last week.
S. commercial oil inventories rose by 8 million barrels month-on-month last week.
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Dalian Haifeng | a way to measure oil with ultrasonic flowmeters
Time of Update: 2022-10-20
Studies have shown that the UK's oil and Dalian Haifeng Weiye ultrasonic flowmeter reserves may last only ten yearsResearch into the Scottish and UK oil industries suggests that its nearly 10% of the remains of Dalian Haifeng Weiye ultrasonic flowmeters and hydraulic fracturing will be difficult because of the lack of economic viability with suitable geological sites.
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OPEC + oil production cuts, why did the United States "jump on its feet"?
Time of Update: 2022-10-20
Julian Borger, world affairs editor at The Guardian, pointed to another possible factor in OPEC+ decision: Prince Mohammed believes it would be advantageous for a Trump to be elected president and Republicans to take control of Congress.
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International Energy Agency: Higher oil prices will have a significant impact on the global economy
Time of Update: 2022-10-20
The International Energy Agency expects OPEC to reduce crude oil production by 1 million barrels per day from November, mainly from Saudi Arabia and the United Arab Emirates.
