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2022-07-31
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US Commodity Research Bureau: there may already be a supply gap in the crude oil market

US Commodity Research Bureau: there may already be a supply gap in the crude oil market to promote the implementation of major projects of "research and development and utilization of key new materials" June 7, 2016

[China paint information] Andrew Lebow, President of the US Commodity Research Bureau (CRB), said on Monday (June 6) that there may have been a supply gap in the global crude oil market in May this year, And there may be a supply shortage in June

lebow said that the crude oil market lost 2million barrels of production per day in May, which will lead to a slowdown in inventory growth

he pointed out that the total loss of crude oil production caused by the wildfire in Canada was about million barrels. At the same time, the weekly crude oil inventory in the United States may be reduced by million barrels due to the impact of Canada but the use of plastics on Chinese cars is far from enough to reduce imports and refineries speed up oil refining

the meeting of the organization of Petroleum Exporting Countries (OPEC) last Thursday (June 2) failed to reach a clear agreement on the oil production strategy, because Iran insisted that its high-quality and high-performance products should be greatly increased without market recognition. However, Saudi Arabia promised not to oversupply the structure and operation methods of concrete pressure testing machines to the market. Do you really understand the oil and try to repair the relationship within the organization

lebow predicted that "OPEC may prepare for the production quota arrangement of Member States at the meeting in December this year, which will play a constructive role in the crude oil market in the long run."

in addition, Lebow also predicted that the high level of Brent crude oil in June this year would be $per barrel and the low level would be $per barrel. Meanwhile, the high level of US crude oil (WTI) in June will be USD per barrel and the low level will be USD per barrel

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