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HomeNews"Revenge" to the US, Japan, South Korea and India joint dumping of reserves? Saudi Arabia announced that it will raise oil prices for the United States and Asia

"Revenge" to the US, Japan, South Korea and India joint dumping of reserves? Saudi Arabia announced that it will raise oil prices for the United States and Asia

2021-12-07
The heart of Saudi Arabia, the needle on the bottom of the sea, is really hard to guess. At the OPEC+ meeting last Thursday, Saudi Arabia seemed to let the United States go and promised to increase crude oil production by 400,000 barrels per day as originally planned. Everyone shook hands and laughed and talked about it. But if you turn your head, Saudi Arabia will immediately adjust the price of oil. .
Just recently, the world`s largest oil producer, Saudi Aramco, announced an increase in the price of oil in the United States and Asia in January next year. Among them, the price increased by 60 cents to Asian buyers, and sold to the level of 3.30 US dollars per barrel, which is since the outbreak of the new crown epidemic. The most expensive price. At the same time, Saudi Arabia has increased prices by 40-60 cents to American buyers, but it has given special treatment to European buyers. Instead of increasing prices, they have reduced prices.
At this moment, the United States and other countries are not happy, thinking that Saudi Arabia is playing with them, first to give them a taste, and then to give them some colors. It is no wonder that before the United States, Japan, South Korea, India and other countries jointly sold strategic oil reserves, Saudi Arabia has already put a note on a small book, waiting to settle accounts with them.
More than 60% of Saudi crude oil is exported to Asia. South Korea, Japan, India and other countries are its biggest buyers. This time Saudi Arabia's increase in oil prices for the United States and Asia is a small "lesson".
In addition, the official price of Saudi Aramco is the weather vane of the oil market. The big brothers have released a bullish signal, and other brothers will follow suit. On Monday, the international oil price rose by more than 1 US dollar per barrel.
It is interesting to note that although OPEC+ says it will gradually increase production every month, it is "cutting corners". Citi has calculated that OPEC+ cannot fulfill its promise to increase production by 400,000 barrels per day due to insufficient investment. In fact, this figure is 26.2. Ten thousand barrels per day. In this context, JPMorgan Chase is optimistic about oil prices, believing that oil per barrel can rise to US$125 next year, and to US$150 the next year.
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