US President Trump has repeatedly published tweets and asked the organization of oil producing countries (OPEC) to increase production and lower oil prices. But as US sanctions against Iranian crude oil exports deteriorate, oil-producing countries like Awudiya continue to increase production and oil prices are staged. The Holocaust Code, New York Light Crude Oil has recently approached $ 50 a barrel, for which Goldman Sach's analysts warned that low oil prices have had a serious impact on the US industrial cost structure.
According to the US media "CNBC", gold marker Jeff Currie, chief commodity research scientist, warned that a dollar oil dump to $ 50 per barrel would hurt the US economy and cause problems in the credit market. Previously, the price of crude oil was too high. Trump had repeatedly issued tweets and demanded that OPEC would increase production and weighed oil prices. Now that there is overcapacity, Trump still has demand for lower oil prices. The cost structure is damaged, and it is in the interests of all parties to reduce production.
Helima Croft, Head of Global Raw Materials Strategy at RBC Capital Markets, said that if Saudi Arabia's land follows the importance of Trump and supplies too much crude oil to the market, it will also affect the US market for shale oil.
(China Times Newsletter)