US President Trump repeatedly publishes tweets, urging the Organization of Petroleum Exporting Countries (OPEC) to increase production and lower oil prices. However, as US sanctions against Iranian oil exports weaken, oil producing countries such as Awudiya continue to increase production. The Holocaust Code, New York's crude oil, was close to $ 50 a barrel, for which Goldman Sachs analysts have warned that low oil prices have seriously affected the US industrial cost structure.
According to the US press "CNBC", golden cursor Jeff Currie, the head of the commodity research department, warned that a drop in oil prices to $ 50 a barrel would affect the US economy and cause problems in the credit market. Previously, the oil price was too high, and Trump repeatedly issued tweets, demanding that OPEC increase production and weigh oil prices, and now that there is excessive capacity, Trump continued to demand lower oil prices. The cost structure is affected and it is in the interest of all parties to reduce production.
Helima Croft, head of global commodity strategy at RBC Capital Markets, said that if the country of Saudi Arabia follows the meaning of Trump and supplies too much oil on the market, it will also affect the American shale oil market.
(China Times Newsletter)