“It’s not a big deal,” said Rusty Braziel, executive chairman of RBN Energy, another Houston-based consulting firm. However, he added, “OPEC+ production cuts will definitely affect the market, just by sending a signal that OPEC+ is ready to cut production to prevent a drop in oil prices.” .
During the 2008-2009 financial crisis, prices fell from $145 to $35 a barrel in just five months. Slowing economic growth in 2014-2015 sent oil prices down more than 50% to $45 a barrel in nine months. Covid-19のパンデミックが発生し、需要が崩壊するまで、価格は再び上昇しました。 Producers were forced to pay buyers for oil they had no room to store, causing prices to plummet from $18 to briefly below zero within hours.
With its economy in jeopardy, Saudi Arabia and its allies have sought to stabilize markets as the world slowly recovers from the pandemic. After he cut production by nearly 10 million barrels a day during the pandemic, OPEC+ gradually picked up production until last month when it announced a slight decline.
“OPEC Plus wants $100 oil,” said Scott Sheffield, chief executive of Pioneer Natural Resources, a major Texas oil company. Mr Sheffield predicted that oil would stabilize at $90 to $100 a barrel and remain there as long as a slowing economy keeps demand down. 「ポンプで少し増加するでしょう」と彼は言いました。
After reports of future OPEC plus production cuts made headlines over the weekend, the price of US benchmark West Texas Intermediate rose 5% on Monday and another 2% on Tuesday, but was still around $85, with several週間前とほぼ同じです。 Invasion of Ukraine.世界のベンチマークであるブレント原油は約90ドルです。
According to the AAA Auto Club, the average price of regular gasoline has fallen to $3.80 from just over $5 on June 14, but has picked up a bit more recently.
For much of this year, the Biden administration has had limited success, urging the Persian Gulf states to pump more water. Mr. Biden is trying to cut prices in one fell swoop, but Saudi Arabia is more concerned about prices being too low and not enough spare global capacity at a time of global uncertainty.