Spot price of selected crude oil in Western Canada
This is mainlySpot price of selected crude oil in Western Canada viewed from three aspects. Firstly, the demand for imported crude oil in India is uncertain. India has grown into the world's third largest consumer of crude oil, and its dependence on imported crude oil has reached 80%. India continues to expand energy refining and plans to build itself into an Asian refining center.
According to a CCTV news client report on the 24th, the Blue Book of Oil and Gas Industry Development Analysis and Outlook Report (208-20) showed that my country's oil processing and oil consumption reached a new high in 208.
However, there is never a shortage of emergencies in the spot crude oil market. At least until the crude oil rises in the day, the market is still mainly bearish. However, at the G20 summit this week, it is inevitable to discuss the crude oil issue due to supply issues. The resulting low oil price is the main factor.
Rickard said that the relationship between the position of the Norwegian kroner and Canadian dollar and oil prices is strengthening. At the high of US$80 per barrel, the traditional oil currency is more sensitive to fluctuations in oil prices: Even if Norway’s fiscal revenue benefits from higher oil prices, the Norwegian kroner’s increase so far has remained modest. We believe that the market is likely to include increased expectations for the Norges Bank’s tightening monetary policy cycle into the country’s currency, and the current lag of the Norwegian Krone implies that there will be a lot of room for supplementary gains in the future.
According to media reports, Saudi Arabia, the world's largest crude oil exporter, may increase its daily output of crude oil from 0.8 million barrels this month to 0 million barrels in July. Brokerage company PVMOilAssociates
If you are holding long positions, you will want the trend to keep going up-yes, you do. This is a strong desire, and it will drive your thinking to develop in more directions. In the same way, if you are holding a short position or no position, you will hope that the trend willSpot price of selected crude oil in Western Canada fall.
Longanecker said that U.S. oil and gas companies spent 8 to 9 billion U.S. dollars on pipelines last year alone. If they purchase materials from countries or regions outside the U.S., the annual material cost will increase by more than 2 billion U.S. dollars.