EUR/USD 1.08469
0.001%
Gold 2898.19
-0.390%
Oil 67.146
0.532%
USD/JPY 147.005
-0.639%
GBP/USD 1.29203
-0.030%
GBP/JPY 189.938
-0.668%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 10, Weilais organizational transformation entered the deep water zone. The company is re-evaluating the necessity of many businesses and projects based on long-term value combined with short-term business goals. Planning and discussions of more than 3 years will be considered too long-term. The focus of thinking now is how to maximize value creation (user benefits and operating efficiency) within 3 years. In this context, multiple departments of Weilais various business clusters will take the initiative to streamline and merge organizations based on the full-year operating goals in the near future, focusing resources on projects that can create value within 3 years. For example, Weilais mobile phone business has been significantly adjusted since December last year. The mobile phone software team has been incorporated into the digital cockpit team, and duplicate positions have been significantly merged and streamlined.German Green Party official Droege: If the CDU and SPD want our support, they must show that the investment will be used for climate and national development.German Green Party official Droege: It is recommended that Green Party members not vote in favor of the bill to (increase) spending.On March 10, ECB board member Kazimir said that in the face of persistent inflation risks, the ECB needs to keep an open mind on its next move. Kazimir said, "In the coming weeks, we must carefully evaluate all the upcoming data and supplement what we have learned with prudent judgment." He also said that this flexibility means "keeping all options, whether we decide to cut interest rates again or pause them." Kazimir said in a column, "Although the inflation trend is encouraging, I am still looking for undeniable evidence that the decline in inflation will continue." He said that now is "not the time to make automatic decisions or act hastily."March 10, according to European media reports, about 80% of the EUs military equipment is currently purchased from non-EU suppliers, especially from American companies, and this proportion has caused concern in the EU. European Commission President Ursula von der Leyen said on the 9th that if 80% of the 800 billion euros of funds for the "Re-Armament Europe" plan flow outside the EU, it will be detrimental to the EU. Von der Leyen said that the EU needs to gradually increase "buying European products", and the UK and Norway are possible supply options for this plan. Von der Leyen also said that the EU must think about how to achieve this goal, and it is very important to keep research and development work and good jobs in Europe.

OPEC cautiously forecasted demand, and U.S. oil closed down slightly and fell below the 80 mark in intraday trading.

Eden

Oct 26, 2021 11:03

On Wednesday (October 13), US oil futures fell 0.2 US dollars, or 0.3%, and settled at 80.44 US dollars per barrel. Bilbao oil fell 0.24 US dollars, or 0.3%, to close at 83.18 US dollars per barrel. OPEC lowered its forecast for global oil consumption in 2021 in its monthly market report. The organization stated that although soaring natural gas prices may increase oil use in some areas such as power generation, it may also curb demand in other areas, including oil refining. At one point, it fell to a low of the past two days.

The OPEC monthly report maintains the global oil demand growth forecast in 2022 unchanged at 4.2 million barrels per day, with an average of 100.8 million barrels per day, and lowers the forecast of oil demand growth in 2021 from the previous 5.96 million barrels per day to 5.82 million barrels per day. /Day, rising natural gas and thermal coal prices will encourage more energy consumption to shift from natural gas to oil. Second-hand data shows that Iran’s September crude oil production increased by 22,000 barrels per day to 2.503 million barrels per day.

Jim Ritterbusch, president of Ritterbusch and Associates, said that today’s OPEC monthly report seems to provide something for both bulls and bears. The agency unexpectedly downgraded its forecast for this year’s global oil demand...but it revised down the supply of non-OPEC oil-producing countries. Growth estimates.

Russian President Vladimir Putin said that crude oil prices may reach 100 US dollars per barrel, and pointed out that if Europe requests it, Moscow is prepared to provide Europe with more natural gas. The focus of the energy market is on how tight supply will affect oil demand, especially in the major oil-consuming countries in Asia.

ThinkMarkets financial market analyst Fawad Razaqzada said in an interview that although crude oil futures show some signs of weakness, "the trend is still clearly bullish. To reverse this pattern, there needs to be macro drivers." Oil prices may soar above US$100 per barrel. However, in the short term, if WTI oil prices fall below US$79.30 per barrel, they may face some selling pressure. Before the price of oil drops to US$76.50 per barrel, every drop may be seen as a buying opportunity by traders.

Earlier EIA short-term energy outlook report showed that the total global crude oil consumption in 2021 is expected to be 97.47 million barrels per day, and the total global crude oil consumption in 2022 is 10.95 million barrels per day. It is estimated that US crude oil production will be 11.02 million barrels per day in 2021, and US crude oil production will be 11.73 million barrels per day in 2022. The growth rate of global crude oil demand in 2021 is expected to be 5.05 million barrels per day, compared with 4.96 million barrels per day. The growth rate of global crude oil demand in 2022 is expected to be 3.48 million barrels per day, compared with 3.63 million barrels per day. The WTI crude oil price is expected to be US$68.48/barrel in 2021, and the price of Brent crude oil is expected to be US$71.38/barrel in 2021.

US President Biden is under severe pressure to control inflation so as not to threaten economic recovery and the political ambitions of the Democratic Party. For this reason, senior government officials held a meeting on Tuesday evening to discuss the issue of rising gasoline and natural gas prices. According to three people familiar with the matter, cabinet officials including Energy Secretary Jennifer Granholm, Agriculture Secretary Tom Vilsack and Secretary of State Anthony Brinken attended the meeting to try to reach a consensus on how to deal with high energy costs and rising inflation. Two people familiar with the matter said that officials have not yet decided on the next course of action, and they have been holding regular meetings on the matter. A White House spokesperson declined to disclose the details of the meeting, but reiterated that the government will use "all tools" to curb gasoline prices. Gasoline prices have reached the highest level since 2014 for the same period.

The API report shows that as of the week of October 8, crude oil inventories increased by 5.213 million barrels, gasoline inventories decreased by 4.575 million barrels, refined oil inventories decreased by 2.275 million barrels, and Cushing crude oil inventories decreased by 2.275 million barrels.

(4 hours chart of US Oil)

Suggestion