According to media reports on Sunday (October 31), a U.S. official revealed that in order to increase oil supply and alleviate the current energy crisis, the United States is planning to continue to support OPEC+ (OPEC+) with some energy consuming countries. With pressure. The official also said that these countries will also discuss their next steps if continued pressure does not yield results and OPEC+ still refuses to increase production.
You must know that as the global economy recovers, oil supply gradually lags behind its demand. In addition, the current outbreak The global energy crisis and high prices of natural gas and coal have further boosted the demand for oil.
However, OPEC+ has only slightly relaxed the supply restrictions implemented last year. As a result, the oil market is still in a state of supply and demand imbalance, and international oil prices continue to rise. According to the market situation, as of October 29 this year, U.S. oil closed at US$83.3/barrel. Previously, its price had reached a high of US$85/barrel. In addition, domestic gasoline prices in the United States have also risen by more than 40% this year.
Rising oil prices have further exacerbated the American people’s concerns about high inflation. Therefore, the United States has twice put pressure on OPEC+, Demanding that the organization “open the floodgates” to increase oil supplies. The country began to “cannot sit still.” In August and October this year, U.S. Department of Energy officials also blamed OPEC+, believing that the “culprit” for high oil prices was OPEC+ because they had control of the entire oil market.
However, OPEC+ is not a “fuel-efficient lamp.” Faced with repeated pressures from the United States to increase production, the organization’s member states remain Unmoved, it insists on increasing production by only 400,000 barrels per day per month. Among them, Saudi Arabia stated that since the epidemic has not completely subsided, it will put pressure on the international oil market. Moreover, gas machines cannot be completely converted into fuel, and the energy crisis will not be very effective in boosting oil demand. Therefore, the country believes that OPEC+ is right to be cautious about oil supplies.
Saudi Arabia also stated that the country will continue to seek a balance point in the energy market. However, the United States does not seem to want to give Saudi Arabia time to “find a balance.” Now the country plans to recruit more energy consuming countries to jointly put pressure on OPEC+. OPEC will face greater pressure to increase production. By then, will OPEC+ still insist on a moderate increase in production? What’s the plan? </p
