Promise to cut production failed to boost oil prices, or Saudi Arabia can only provoke the burden alone?
After OPEC took action to cut production, the U.S. Secretary of Energy said that he would pay attention to oil prices and cooperate with oil producing and consuming countries to ensure lower oil prices. Saudi Aramco set the price of Arabian Light crude oil sold to Asia in July at a premium of US$3 per […]
Why did the two oils fall back quickly after jumping high?
The OPEC+ meeting ended and announced that the voluntary production reduction agreement reached in April will be extended from the end of 2023 to the end of next year. Saudi Arabia will cut production by 1 million barrels per day in July on the basis of voluntary production reduction, and said that if necessary, it […]
Oil prices ignore the negative impact of EIA, and the probability of OPEC+ production cuts this week may only be…
1. The latest progress on the US debt ceiling issue Members of both parties in the US House of Representatives jointly passed the debt ceiling bill with 314 votes in favor and 117 votes against, and the bill will then be submitted to the Senate. US Senate Majority Leader Chuck Schumer said he is optimistic […]
Oil prices remain weak as bets on no cuts heat up
1. The latest progress on the US debt ceiling issue A procedural vote on a bill to suspend the US debt ceiling has received enough votes in the House of Representatives that voting continues. The Senate’s No. 2 Republican, John Thune, said on Wednesday the Senate was on track to pass the bill by Friday […]
The two oils have suffered serious setbacks, and there is no other way at present?
Debt ceiling bill – A key Republican member of the House rules committee will support the bill, the vote may be advanced, some lawmakers have submitted amendments, and the Treasury Department cash is back to $54.5 billion. US Republican Representative McHenry and Democratic Representative Boyle said that there will be enough votes to support the […]
The two giants have another “episode”, but may this be intentional?
Biden and House Speaker McCarthy are each stepping up their party lobbying for a debt-ceiling agreement, both expressing optimism about the prospects, and moderate and pragmatic heavyweights from both parties have also made initial supportive statements, but as of Monday local time At noon, House Minority Leader Jeffreys had yet to express public support for […]
The oil market continues to weigh the prospect of production cuts, and capital changes point to the possibility of range fluctuations
1. U.S. Debt Ceiling Issue UpdateThe White House and Republican negotiators have reached a tentative agreement on raising the U.S. debt ceiling, which is expected to be released on Monday morning Beijing time, voted in the House of Representatives on Wednesday, and the Senate on Friday or over the weekend. Biden said he was confident […]
Saudi Arabia and Russia send contradictory signals, who will the OPEC+ conference listen to?
1. Progress on the US debt ceiling issueAccording to people familiar with the matter, a stripped-down version of the U.S. debt ceiling agreement has taken shape, with the gap between the two sides’ discretionary spending proposals less than $70 billion, and Republicans willing to make concessions on defense spending. McCarthy said that no agreement was […]
Crude oil inventories plummeted, Goldman Sachs continued to be optimistic
1. Fed minutes highlight internal divisionsThe minutes of the Fed meeting showed that officials were divided on the pause in raising interest rates in June, with some participants saying that further policy tightening may be needed at future meetings. Officials agreed that inflation was too high and falling more slowly than expected, stressing that it […]
The Saudi oil minister warned that the good days of crude oil shorting are coming to an end?
1. Related to the US debt ceiling issueOn Tuesday, U.S. House of Representatives Speaker McCarthy said a deal had not yet been reached, but believed a deal could still be reached by June 1. The two sides are understood to still have major disagreements over spending, with no talks currently scheduled.On Tuesday local time, Federal […]