Flurry News News to build oil prices


Oil market awareness has come from badly to strengthen in the last few days; like to strengthen the section. A series of renewables from OPEC and Venezuela, combined with oil or two price prices, affecting Brent to the highest level since the beginning of the year, with a hope to good future too.

OPEC said in its latest monthly oil market report that a total of its month has dropped to 30.8 million pd, down by almost 800,000 bpd, as the cartel wants to build prices again. This ranges from 31.6 million pd in December and was largely driven by Saudi Arabia efforts to reduce the price increase by cutting more. The Kingdom made 350,000 bpd less oil in January than in December, at 10.2 million pd, which was also what it had agreed to cut.

Judgment by & # 39; Affecting prices, with Brent getting a $ 65 barrel earlier this week for a & # 39; The first time in more than a month, the "no matter what it does" means to work. At the same time, Russia sent his confidence to his & her; Alexander Novak Energy Minister says he will add up the cuts that he agrees for this month and next step.

The latest from Goldman Sachs cartridge gave an update on their price expectations and, of course, this update was very helpful. The reservoir said that OPEC cuts are higher price guides because they are deeper than expected and how they do; Together with a stronger application that reduces records. Related: As Blockchain A Wear Trade Oil Oil

Venezuela came to Another factor who had higher prices. After the United States introduced new sanctions to the government in Caracas, traders were expected to be increasing and a change of regime that ended up. The effects of lower Venezuelan output and export on global markets, said Reuters & # 39; John Kemp in a recent column on prices.

Ow, the Maduro government has been more sustainable than expected and now traders have begun to & # 39; expecting it to be easier to achieve a more sustainable impact on global oil supply, with Venezuela as one of the largest suppliers in the world of bad crude.

However, this is not a shared idea that is shared. The International Energy Agency, for example, does not have a & # 39; Believing that Venezuela has a huge impact on removing Venezuelan seabirds from market prices.

"What we know is that the sanctions already make it difficult for PDVSA to extract oil," said the IEA in the latest journal of the Oil Marketing Report. "Despite this, the oil prices of oil oil components have not significantly changed the news. This is because of the amount of raw oil, markets may be able to change after First inconvenient problems. Most of the markets are currently in stock and, with the implementation of the new Vienna Agreement at the beginning of the year, there is more scope for representation. "

However, as long as Venezuelan is a position; solution, preceding supply motors of a similar type suggest that a response is # 39; A strong market with the first out, but after that he is & # 39; save and print & # 39; confirming it not to disturb him. Whatever this happens now too, despite OPEC cuts, it is still visible. In particular, these cuts may need to be extended over a period longer than the last four months to April: a petition of oil demand is still upside down.

Le Irina Slav for Oilprice.com

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