Since April, the number of active oil wells in the United States has increased by 28, while the number has decreased by 2 in the month, and has increased by 78 so far this year. More data shows that the total number of active oil and gas wellBakken Clearbrook Mn crude oil spot prices in the United States increased by 8 to 02 in the week ending April 20.
OPEC Secretary General Barkindu expressed confidence that the oil-producing countries' meeting in Vienna can reach some kind of agreement. Many member states expressed support for Iran's statement. Ecuador stated that OPEC and its allies may agree to increase production by about 500,000 to 600,000 barrels per day after some compromise.
The US Baker Hughes oil drilling data was released early this morning. The data showed that oil rigs increased by 9 in a row for 5 weeks. Crude oil prices received a negative blow, but oil prices did not close down. Because non-agricultural data fell short of expectations, crude oil prices closed strongly. ultra%.
Another factor that minimizes the impact of high oil prices is the surge in US oil production. The United States now has a larger share of global oil production, which means that as the world's largest economy, the United States has benefited more from rising oil prices. But UBS still believes that a further increase in oil prices of US$20/barrel will not bring much new oil production.
Spot crude oil will usher in the impact of EIA and API crude oil inventories again this week. The API and EIA crude oil inventories originally scheduled to be announced on Wednesday will be delayed to 4:00 in the morning and 2:00 in the evening respectively. Because of the one day off on Columbus Day in the United States this Monday.
In Iran, with the expiration of the sanctions exemption in May, the UnBakken Clearbrook Mn crude oil spot priceited States intends to further reduce Iran’s crude oil exports to less than 0 million barrels per day. At the same time, Libya's Western Sahara oil field is 100,000 barrels per day, possibly as high as 400,000 barrels per day of oil production will be at risk.