The hottest IEA raised Libyan production reduction

IEA raised Libyan production reduction data, international oil prices continued to soar

IEA raised Libyan production reduction data, international oil prices continued to soar

March 3, 2011

[China paint information] on Wednesday, international oil prices continued to hit a new high in more than two years, and the International Energy Agency raised its production reduction estimates for Libya, and international oil prices rose strongly. Data from the U.S. energy information administration showed that crude oil and refined oil inventories fell across the board, and the rise in international oil prices increased. At the close of Wednesday, the April futures settlement price of light crude oil on the New York Mercantile Exchange was $102.23 a barrel, up $2.60 from the previous trading day; London Intercontinental Exchange Brent crude oil futures in April settled at $116.35 a barrel, up $0.93; New York heating oil futures in April rose 3.42 cents to 305.77 cents per gallon; Rbob gasoline futures in April were 302.95 cents per gallon, up 4.61 cents; Diesel futures in March on the London Intercontinental Exchange rose $24.00 to $964.75 per ton

crude oil futures increased and refining profits shrank. According to the settlement price of the New York Mercantile Exchange, the "3-2-1" profit of refining three barrels of crude oil into two barrels of gasoline and one barrel of heating oil on Wednesday was $25.404 per barrel, a decrease of $0.83 from the previous trading day

the International Energy Agency raised its estimate of Libya's closed crude oil production capacity on Wednesday, but also reiterated that European refiners still seem to have sufficient crude oil stocks at this stage. IEA said on Wednesday that Libya's closed crude oil production capacity is about 850000 to 1million barrels per day. The agency last week gave an estimate of 500000 to 750000 barrels per day. The IEA announced on its website that European refiners still seem to have sufficient crude oil inventories, which can be supported until the end of March at least

Goldman Sachs believes that the global market cannot control the interruption of oil supply in Libya, and the fear of global oil shortage will continue to be a factor in the rise of oil prices. BNP Paribas raised its oil price forecast for 2011, believing that the average barrel of U.S. crude oil was $105 and Brent crude oil was $117 in 2011

the market is worried that the conflict in North Africa will spread to the Middle East, especially Iran, a world oil producing country. Iran's crude oil production capacity is close to 4million barrels per day. In addition, the country also guards the Strait of Hormuz, an important transportation bottleneck in the Persian Gulf. Once Iran has problems, the world oil supply will decline sharply and it is difficult to compensate through other means

however, Abu Dhabi in the United Arab Emirates will begin to transport oil through a new crude oil pipeline in the middle of this year; Through the pipeline, Abu Dhabi will be able to bypass the Strait of Hormuz waterway and export oil through the emirate of Fujairah in the United Arab Emirates; The pipeline can transport up to 1.8 million barrels of crude oil per day. The plan to build an oil refinery in fujaira has also been put on the agenda again. The insider revealed to the media that the first batch of crude oil will be exported from fujaira in the second half of this year; After the pipeline is fully put into operation, the pipeline will reach the maximum transportation capacity in early 2012. Through this $3.29 billion, 400 kilometer long crude oil pipeline, Abu Dhabi will be able to export up to 70% of its crude oil through fujaira, and tankers will load Abu Dhabi crude oil in fujaira, without having to spend an extra day sailing through the Strait of Hormuz into the Persian Gulf controlled by Iran. The pipeline is called Abu Dhabi crude oil pipeline. (for details, please contact us)

the report of the U.S. energy information administration shows that the storage of cylindrical test pieces made of compacted test pieces of U.S. crude oil and finished metal materials such as low carbon steel and cast iron fell comprehensively last week. Data showed that U.S. crude oil inventories fell by 400000 barrels last week. Previously, analysts generally expected that U.S. crude oil inventories would continue to rise. U.S. gasoline inventory fell by 3.6 million barrels, and distillate oil (including heating oil, which has a faster temperature change rate in the rapid temperature change test chamber, and diesel) inventory fell by 800000 barrels. However, the crude oil inventory in Cushing increased by 1.1 million barrels, reaching the historical highest level in the region

according to the latest news, the package price of OPEC calculated by the weighted average price of 12 OPEC member states on March 1 was $108.27 per barrel, down $0.23 from the previous trading day