Petrochemical Day was an excuse to focus on the strategic performance of this field and to examine the effective role of this scientific and economic field in advancing the country’s economy. The petrochemical industry is currently one of the most profitable industries in the Iranian economic system and owes much of its success to the […]
In this memo, we will examine the most important factors influencing global oil price changes. The latest reports from sources of oil sales indicate that oil prices rose on Thursday, which helped buy more oil on a day when oil trading volume has declined. Stay tuned to Artan Press until the end to discuss other […]
The global oil market is in a very vague and unpredictable situation at the end of last week due to speculation that the UAE was on the verge of leaving the organization and was an oil exporter (OPEC). This was an excuse to analyze the latest developments in the oil market. Please ask until the […]
Following the weakening of global demand for energy due to the widespread outbreak of the Corona virus, the global industrial sector has entered a severe and historic recession, and this issue has sounded the alarm for the oil industry of Iran and the world.
The annual oil conference of the S&P Global Pellets Institute, held annually in Singapore, brought together the greats of the oil industry virtually this year. BP, Trafigura, Citigroup and Vitol are some of the familiar letters in the world oil and gas industry that attended the largest meeting of the world's oil industry and trade, sending messages about the future of the oil market, which are largely devoid of optimism.
With less than two months to go before the US election, its winner, the next president, may pursue new policies in the energy and oil industries. In the Trump-Biden duo, the latter, who now has a better chance of winning, has said he wants to spend $ 2 trillion on green energy and not issue a new permit to drill for oil and gas on federal soil. On the other hand, Iran's oil exports are projected to increase by 1.8 million barrels per day by the end of next year if Biden wins.
For more than a decade, the main concern in the oil market has been the depletion of oil resources, but reaching the peak of demand and then entering the downward path of this most important commodity market in the world has been an issue that has occupied the minds of analysts.The reason for this development is, on the one hand, the discovery of new resources around the world that have pushed supply into equilibrium with demand over time, and, on the other, the risk of global warming, which encourages governments to support renewable fuels and regulate the use of renewable fuels. It has forced fossil resources and greenhouse gas emissions.
Estimates from international institutions, as well as the latest statistics released by Chinese Customs, indicate an increase in the supply of Iranian crude oil to the market. According to these figures, which are unofficial estimates, Iran's daily crude oil exports have probably increased to 600,000 barrels per day this summer. 120,000 barrels of this amount for July (July-August) has been approved by Chinese customs. Optimism about the outcome of the US presidential election and the growth of Chinese demand for cheap crude oil could be two possible reasons for the increase in Iran's activity in the oil market.
The trading volume of the International Ring of the Energy Exchange in August was accompanied by a 30% decrease, which means a serious decrease in foreign exchange through the export of petroleum products from the country. They are not related to each other or have high affinities for various reasons. In August, the volume of supply of hydrocarbon products in the physical trading board of the energy exchange decreased by one million tons and reached 3 million and 508 thousand tons, which is still an acceptable figure, but despite the decline of one million tons of supply can not be easily It passed even when the demand also dropped by nearly one million tons.
The International Energy Agency, the Organization of the Petroleum Exporting Countries (OPEC) and the US Energy Information Administration believe that oil demand will remain below the end of 2019 until the end of 2019, before the corona epidemic and beyond. Remained. Meanwhile, OPEC has the most pessimistic estimates of the future of black gold compared to the other two entities. In its August report, the agency cut its estimate of demand levels for all future seasons until the end of 2021, except for the first quarter of next year, and believes that demand will fall by one million barrels this year more than the agency estimates.