Tuesday , May 11 2021

Production of the US as well as the imports of China is stable



Crude oil prices have been under pressure since crude oil prices slumped sharply against crude oil prices. Oil price is at record high.

Brent crude futures lasted 72 dollars per barrel. 7 cents down from last session

US West Texas Intermediate Crude Futures price rose 5 cents to $ 61.72 a barrel.

Standard US production costs influence

During the week ended November 11, US production was estimated at $ 11.6 billion.

That was three years before the US production. This has increased to 22.2 percent since the start of this year.

Thus the United States is the largest producer of crude in the world.

US oil may cost more. Production will grow to 12 million BPAD by mid-2019, Energy Information Administration said.

Production is also not only in the US and in production, but also in Russia, Saudi Arabia, Iraq and Brazil. From 2014 to 2017, oil prices increase the productivity of producers' products.

China imports crude oil again Reduced concerns about renewed crude prices.

Oil imports grew by 32 per cent to 40.80 million tonnes from 9.61 million barrels in the previous month, according to data from the Chinese Customs Administration.

In April this year, exports stood at 9.6 million units.

Reuters


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