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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    China may thwart Russian and OPEC efforts in the market

    Rocky
    Rocky
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    China may thwart Russian and OPEC efforts in the market Empty China may thwart Russian and OPEC efforts in the market

    Post by Rocky Mon 28 Aug 2017, 7:11 am

    China may thwart Russian and OPEC efforts in the market


    28/08/2017



    China has thwarted attempts by OPEC and Russia to reduce the global supply of crude oil, the Energy Markets website said .

    According to " oilprice ", China has gone to buy oil effectively during the past decade, which led to a significant increase in its oil reserves, which contributed greatly to support prices.

    Experts estimate China's strategic reserves at around 600 million barrels by May 2017.

    But analysts believe that most of these imports go only to reserves, and that they are close to the maximum volume that can be absorbed, which predicts chaos in the global market.

    According to analysts' conclusions, if China's oil imports began to decline, this, according to them "is inevitable," the demand will fall, so the price will lose the support it received from the increased purchase of crude by Beijing.

    The rate of increase in China's oil imports during the second half of the year could drop to 700,000 bpd and next year to 100,000 bpd, the Financial Times reported. By the end of next year, China's oil storage facilities can be filled to the limit.

    Experts predict that if the agreement to reduce the production of crude is not extended, the OPEC countries and Russia will resume production increase after March 2018, which will lead to a price war that will hurt the producers in the first place.

    Traders and investors in the oil market were affected by Hurricane Harvey in the United States, with gasoline futures up 6%.

    http://aletejahtv.org/permalink/178889.html

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