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Oil barrel rises and short negative streak of several days

2020-01-14 13:23:04

The topic we will have to discuss in this article which will be specifically that the Oil Barrel goes up.

What details should be highlighted as to the rise of the Oil Barrel?

A four-day negative streak was cut, which was generated by tensions in the Middle East, so on Tuesday the Oil Barrel rises to $ 64.50, in addition, there is also the signature that is for Agree commercially among the largest consumers of energy on the planet, the United States and China, for more details let's see what the content brings from now on.

What is the current oil situation?

In the initial hours of the day there were losses, but then we have that the trend was reversed, where Brent was at 0.69 percent rises, this being at 64.64 per barrel, at 1202 GTM, the ETI earned 0, 32 percent what is being $ 58.4 per barrel, these references of both fell between 5 percent and 6 percent last week respectively.

If something has hit the global economy is the dispute that exists between China and the United States, but everything seems to indicate that due to the signing of a trade agreement between the two, it will be key to overcome this conflict, the scenario in the case of demand before This firm can end the effects on global energy consumption, China for its part committed to buy more than 50 billion dollars in energy from the United States in the following two years, this is between the trade agreement according to a source .

The effect of the commercial war that exists between the United States and China has been tangible in the growth in the demand for global oil in the last year, where it came to be in the 890000 barrels per day, where initially it was previously 1.5 million barrels per day, explained by Tamas Vargga analyst at the PVM, this year the initial expectations is that this rate rises in terms of demand by 1.25 million per day, it is important that this trade agreement is carried out and so the projections may be higher express Varga.

Imports from China in 2019 grew by 9.5 percent when compared to the previous year, the growth in the refineries caused the demand to grow in volumes the purchases made by this nation, this data was published on Tuesday, in the case of Limitations on oil profits, we have the slightest fear of interruption of supplies, due to the tension that exists in the Middle East was a factor in this case.

The reports that are published by the American petroleum association will be important for the markets, serving as monitoring, we speak of a private group that on the inventories and petroleum derivatives of the North American country, indicated that in the estimations they know that the US stocks in The period is down.

With this we come to the end of this information, the main objective being that the Oil Barrel rises, the content is expected to be interesting for our readers and that it will be very useful.

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