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July 10, 2011
By Thaioil Plc.
50
Oil prices continue to stabilize Supply is still tight.
Thai Oil The price of crude oil in West Texas this week will be in the range of [72-77 dollars / bbl] Brent crude was $ 76.88 per barrel .
Crude oil prices are expected to remain stable. The supply of crude oil continued to be tight. With the declining capacity of Libya and Iran as well as the volume of US crude oil. The downward trend. The refining margin of American refineries C is still high. Imports of crude oil from Canada are expected to decline, but crude oil prices are under pressure from both OPEC producers and non-OPEC producers. After agreeing to increase production capacity by 1.0 million barrels a day, crude oil has also been under pressure from crude oil production in the United States.
An Important Factor That Should Affect the Situation of Oil Prices This Week :
- Monitor the situation in Libya. Force Majeure, crude oil shipments from export ports, Zueitina and Hariga oil, and the oil export ports of Ras Lanuf and Es Sider, were announced on June 14, 61. Still can not not return to normal operation. As a result, production of Libyan crude oil could decline by 850,000 barrels a day
- . Imports of crude oil from Iran after the United States announced that all countries have stopped importing crude oil from Iran since November. Iran currently produces between 7 and 3.8 million barrels of crude oil per day. And crude oil exports about 2.5 million barrels a day. After the boycott of Iran, the United States Iran's crude oil could be affected
- . The downward trend. Behind the US refinery Continue GRM high. And recently reached the highest level in seven years, with the import of crude oil from Canada is likely to decline. Due to Syncrude's crude oil production capacity of 360,000 barrels per day
- Crude oil production from OPEC producers and non-OPEC countries is expected to increase. After the group of producers agreed to increase the production capacity to compensate for the lack of supply of Iran. And Venezuela at the meeting from 22 to 23 June, which will begin to increase production capacity since July. The latest Saudi Arabia plans to increase production to 11.0 million barrels a day. Compared with 10.8 million barrels a day in June. 61, while the United Arab Emirates said that they would increase their production to 3.5 million barrels a day by the end of the year, from its current production of 3, 3 million barrels a day. OPEC has increased its production capacity to more than 11 million barrels a day. Which is the highest since April 60
- crude oil production in the United States. The trend continues to increase. Crude oil prices are above the thresholds of profitability of US crude oil producers. The latest Energy Information Administration (EIA) in the United States reports crude oil production in the United States. For the week ending June 29, 61 was 9 million barrels a day. It is expected to reach 11.0 million barrels a day by the end of the year.
- Economic figures this week are China's producer price index and consumer price index. Producer Price Index and Consumer Price Index [1] [3] [4] [5] [6] [5] Down $ 0.35 to $ 73.80 per barrel, while Brent crude fell $ 2.33 to $ 77.11 per barrel . Dubai crude oil closed at $ 74.0 a barrel. After being boosted by the possibility that Iran's crude oil exports will decline to zero. By the United States Let the countries suspend Iran's crude oil purchases In addition, the supply of crude oil during this period is quite tight. The closure of the Syncrude plant in Canada and the conflict in Libya, however, put pressure on Saudi Arabia and Russia, while weakening demand for oil. From the American trade conflict And the partners. Including China
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] Source: Thai Public Petroleum Limited
Tel: 02-797-2999
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