Oil set a record for the highest price since December 2014

KONTAN.CO.ID – JAKARTA. The price of crude oil burned again. Yesterday (27/6), the price of the type of oil mild light In August 2010, the NYMEX delivery contract reached US $ 72.76 per barrel. This is the highest price since December 2014.

Oil prices have risen on the global issue. first, called the United States (United States) to their allies for not stopping the import of crude oil from Iran. This is part of the US initiative to isolate Iran, both politically and economically.

The United States is giving the Allied countries time to start stopping oil imports from Iran as of November 4. "The ban on oil imports from Iran will disrupt the demand chain, particularly China and Japan, which were the main importers of Iran," said Deddy Yusuf Siregar, badyst at Asia Tradepoint Futures, Wednesday (27/6).

According to Deddy's record, China's oil demand to Iran reaches 2 million barrels a day. This ban will increase demand for oil from other oil-producing countries. In fact, the current world oil supply is also reduced due to production interruptions in Libya and Canada.

No wonder, oil prices are in the race. "There are concerns, although OPEC member countries are increasing their production, the global supply of oil will still be lacking," said Deddy.

SecondOil prices rose after the American Petroleum Institute released data from US industrial oil inventories remained at 421.4 million barrels until the end of last week. US oil inventories were down 9.2 million barrels from the previous week.

In addition, Baker Hughes also reported a decrease in US drilling activity last week. "There has been a drop in the number of rigs to 862," said Faisyal, an badyst at Monex Investindo Futures on Wednesday (27/6). This is the first reduction of rig in US in 12 weeks. This has heightened fears of a decline in the global supply of oil.

Despite this, Deddy estimated that the price of oil should not reach $ 80 per barrel this year. The reason, Saudi Arabia and Russia have the opportunity to hoist oil production. US production is also likely to increase.

But next year, the opportunity for oil prices to reach 80 dollars a barrel. This can happen when the global economy recovers, the process ends Brexit and improve European inflation. "The demand for oil will be high again," predicted Deddy.

Faisyal predicts, today the price of WTI oil will be in the range of US $ 70.30 per barrel, baduming that weekly data from US oil stocks have dropped. While Deddy predicts one week in advance, the price of oil will be between US $ 69.30 and US $ 72.30 per barrel.

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