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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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    BP: Trade war threatens global demand for oil

    Rocky
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    • Post n°1

    BP: Trade war threatens global demand for oil Empty BP: Trade war threatens global demand for oil

    Post by Rocky Tue 25 Sep 2018, 4:03 am

    BP: Trade war threatens global demand for oil 1efb09f9-5e39-434d-b6e1-7b15b67e7160_16x9_1200x676-660x330


    BP: Trade war threatens global demand for oil
    (Reuters) - US sanctions on Iran will lead to a severe shortage of world oil supplies by the end of the year, but there is a threat to global demand and a looming 2019 US-China trade war, the head of Asia's oil trading company told BP.
    "We are moving to the worst part of 2018," Janet Koon told Reuters. "Re-imposing sanctions on Iran is the key factor as there will be a severe market shortage from now until the end of the year."

    Venezuela's output is exacerbated by sanctions, while delays in Nigeria and Libya lead to more supplies, Kong said, as Brent finds support above $ 80 a barrel.
    "The fundamentals of the market in the short term seem to be very supportive of the price hikes and positive because of the supply shocks, but over time, when the supply recovers and the shock of demand becomes clearer, the market will embark on another round of rebalancing next year," she said.
    The world's two largest economies, China and the United States, imposed tariffs on one another's imports in an escalating trade war that rocked global markets and raised fears of a slowdown in world economies and demand for commodities next year.
    "For 2019, I fear the impact of the US-China trade war, which is slowly emerging.
    "The impact of the commercial war has not really shown the data anywhere, but it will gradually emerge over time. So the shock of supply is very sharp and immediate, while the impact of the trade war is slowly rising. "
    She said analysts and the International Monetary Fund expected a decline in global GDP growth of between 0.5 and 1 percent next year.
    The International Energy Agency said in its monthly oil report that global demand for oil will exceed 100 million barrels per day next year, although the crisis of emerging markets and trade disputes may suffer from this figure.
    "Trump's management wants to protect intellectual property rights ... reduce support for Chinese state-owned enterprises and open the market to all companies, which in my view is difficult to be approved by the Chinese government," Kong said. "So it is very likely that this war will last for a long time."


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