The organization of Petroleum Exporting Countries (OPEC) and its allies plan to extend record production cuts to the end of July, as the world’s major oil exporting countries take cautious action to rebalance the oil market at a time when the anti epidemic measures have been relaxed. According to the previous production reduction agreement reached

Even the rain does not know the spring to go, a clear to know the deep summer. Since May, OPEC + oil producing countries have started to reduce production, and crude oil exports in the Middle East have risen in price. Many factors have pushed international crude oil prices to $40 / barrel. On June

Recently, the U.S. polyethylene (PE) market is undergoing a change. While the domestic market announced the price hike, the export price began to rise. Due to the poor performance of the PE industry in the United States in the first quarter, the unit load rate decreased, and even some plants were shut down. During the

According to the latest demand forecast of lesta energy, by 2020, the global oil demand will decrease by 11.5% year-on-year, i.e. 11.4 million barrels per day. Total oil demand is expected to fall to 88.1 million barrels per day this year from about 99.5 million barrels per day last year, according to resta. Demand is

ICIS analysis says global polyethylene (PE) production is expected to decline for the rest of 2020 as capacity growth will meet the slowing demand of most end industries. In the first phase of health emergency measures against the epidemic situation, although the supply of PE is limited by blockade and logistics problems in some cases,

International oil prices rose, recovering earlier land losses, as countries around the world continue to relax the anti epidemic measures, increasing the hope for the recovery of fuel demand. But international relations tend to be strained, and the outlook for oil prices may face uncertainty. French environment minister Elisabeth borne said in an interview with

Global refining production may start to rebound in June, but as oil producing countries cut production much faster than expected, raising crude oil prices may squeeze refiners’ profit margins. The new crown epidemic has put billions of people in a blockade and reduced fuel demand by 30%, allowing refiners to curb output globally. The collapse

According to the arbitrage data of oil products import and export, Singapore’s oil products market is also on the rise. In the first half of May, the arbitrage space of gasoline and diesel imports rose and fell in different directions. In May, the price of international crude oil futures fluctuated and rose, and the rate

In terms of the trend of upstream crude oil, analysts of Meierya futures said that the US Energy Information Agency (EIA) lowered its forecast for global crude oil demand in 2020 once again, and when countries gradually drew up the resumption plan, the market was still worried about the second outbreak of the epidemic, which

A novel coronavirus pneumonia Commission has recently launched a “clean recovery” plan to promote Australia’s recovery from the economic downturn brought by the new crown pneumonia epidemic by increasing investment in renewable energy and energy storage. According to Kane Thornton, CEO of the Clean Energy Commission, hundreds of large-scale wind and solar power projects in