Russia is considering restoring production capacit

Russia considers restoring production capacity, oil prices plummeted

Russia considers restoring production capacity, oil prices plummeted

August 11, 2017

[China paint information]

affected by the oversupply of global oil prices and the increased production capacity of the organization of Petroleum Exporting Countries (OPEC) in July, oil prices fell on Thursday (August 10). Russia is considering restoring production capacity in the future

Gazprom neft, a Russian oil producer, said that once the agreement between OPEC and non OPEC oil producing countries expires, it is economically feasible to restore production capacity in countries with reasonable production reduction

according to statistics at 16:12 p.m. Greenwich mean time, the price of WTI futures in the United States fell by 35 cents, or 0.7%, to $49.21/barrel; Brent crude oil futures fell 16 cents, or 0.3 percent, to $52.54 a barrel

o controller failure PEC countries have been waiting for the oil demand in 2018 and are expected to reduce production next year. However, global supply will continue to increase. Although the production reduction agreement is implemented, the market will still maintain a surplus of inventory

affected by the increase in production capacity of the two major production reduction exemption countries and the increase in exports by Saudi Arabia, OPEC's output increased by 173000 barrels per day to 32.87 million barrels per day in July

similarly, due to global doubts about the effectiveness of the production reduction agreement and the reluctance of non production reduction countries to consume global inventories, global oil prices fell by 7% this year

Saudi Arabia said on Tuesday that it would reduce its exports to Asia, the world's largest oil consumer, by 10% in September

investors expressed confidence in the global oil price balance. The spot oil price has chemical resistance, mechanical resistance and heat stress resistance, which is higher than the futures oil price

Bjarne schieldrop, chief commodity analyst at SEB of North European bank, explained that the oil price curve is moving towards a gentle trend

global stock market prices are still above the long-term average, and as the summer holiday is coming to an end, the plans of oil producers in OPEC, Russia and other countries to push up oil prices will have negative effects

U.S. crude oil inventories have been at their lowest level since October last year and have fallen for 10 consecutive weeks in the past 12 weeks

in addition to the above common experiments, gene mcgillian, manager of traditional energy market research, an energy consulting company, said that with the decline of crude oil inventories in the United States on Wednesday, oil prices rose, but this was not enough to support the upward trend of oil prices. It seems that the market wants to raise the oil price and tries to find a way, but the question is whether it can be found