Home Business International oil prices closed down, U.S. oil fell more than 2%

International oil prices closed down, U.S. oil fell more than 2%

by news dir

Summary

On Friday, Eastern Time, international oil prices closed down, and U.S. oil fell more than 2%. As of the close, New York June crude oil futures closed down 1.43 US dollars, or 2.20%, to 63.58 US dollars per barrel, a cumulative monthly increase of 7.22%; Brent June crude oil futures closed down 1.31 US dollars, or 1.91%, on the expiry delivery day. US$67.25/barrel, a cumulative monthly increase of 7.20%.


Friday, Eastern Time, InternationalOil priceClosed down, U.S. oil fell more than 2%. As of the close, New York June crude oil futures closed down 1.43 US dollars, or 2.20%, to 63.58 US dollars per barrel, a cumulative monthly increase of 7.22%; Brent June crude oil futures closed down 1.31 US dollars, or 1.91%, on the expiry delivery day. US$67.25/barrel, a cumulative monthly increase of 7.20%.

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International oil prices have fallen from a six-week high, but there will be new forces on the demand side in the near future

Senior of JBC EnergyAnalystEugene Lindell said that the surge in the number of infections and the introduction of new travel restrictions by the authorities forced them to lower India’s 2021gasolineAnd other energy product demand forecasts. The Energy Aspects analyst team reported: “The demand recovery after the COVID-19 pandemic is still uneven. The surge in cases in India reminds us in time that it is too early for oil prices to rise to $70.” They added that only when demand has improved significantly and inventory is destocked. Only after the end of the third quarter of this year will it be possible to reach this level.

North American shale oil and gas are making big acquisitions again

According to Platts Energy Information, on April 1, US shale oil producersPioneer Natural ResourcesThe company announced that it will acquire Double Point Energy for US$6.4 billion.The transaction aims to consolidatePioneer Natural ResourcesThe company’s position in petroleum exploration in the Permian Basin. Affected by this news,Pioneer Natural ResourcesThe company’s stock price closed up 3.64%.This is also the largest shale oil and gas industry in North America this yearM&Atransaction. Pioneer Natural Resources said the acquisition will give it an “unparalleled” scale in the Permian Basin.

Global Petroleum Outlook to 2050

The total demand for petroleum products will peak in 2035, about 107 million barrels per day; between 2035-50, oil demand will drop by 10%, reaching 96 million barrels per day in 2050. It is worth noting that with the slowdown in the replacement of road transportation fuel demand, global oil demand will stabilize in the late 1940s, and the year-on-year decline will fall from 1.3 million barrels per day in 2041 to 2050. 400,000 barrels per day. At the same time, the decline in oil production from existing oil and gas wells will far exceed the shrinking rate of future oil demand, which means that the oil and gas industry will still need a large amount of upstream investment to develop new wells before and after 2050 to support global oil demand.

(Article Source:Oriental wealthResearch center)

(Editor in charge: DF407)

Solemnly declare: The purpose of this information is to spread more information, and it has nothing to do with this stand.

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