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Wataniya bitumen bulk

Wataniya bitumen bulk

As you may know, the global fluctuations affect the Wataniya bitumen bulk.

Therefore, we have decided to analyze the global oil market that has faced

the lowest demand since the outbreak of the coronavirus in the world’s economies in March 2020, forcing governments to reduce the spread of the

virus, resulting in the homelessness of millions. In fact, this has led to

declining demand for petroleum products such as gasoline, diesel,

and fuel oil in the world, mainly because of global quarantines and

declining land exports between countries. In other words, supply and

demand affect world oil prices in this strategic product.

Wataniya bitumen list

Wataniya bitumen bulk and the global variables

It’s important to know that the world’s largest oil producers are

OPEC members, which hold 65 percent of the world’s oil reserves but account

for 40 percent of total crude oil production. As a matter of fact, the

largest non-OPEC producers include the United States, Russia, Brazil,

Mexico, Canada, Norway, Britain, China, Sudan and the Republic of Azerbaijan. Moreover, non-OPEC countries are working hard to increase production

and exports of this product, especially the United States, Brazil,

and Canada, which have changed from importers to exporters and

have also affected the markets of OPEC member countries.

 

Wataniya bitumen 60/70

Wataniya bitumen bulk and the price fluctuations

It’s important to know that the most important factors influencing oil prices

are the economic growth of countries such as China, the United States,

Europe, Japan, and India (US dollar index), the price of global gold,

supply and demand, OPEC decisions, and finally geopolitical risks. Even the amount of declared reserves of countries, especially major consumers of

crude oil, causes price fluctuations so that if the US Energy Information Administration publishes a negative and negative amount of oil

reserves, prices will rise.

To be more specific, Clashes in Libya between General Haftar and

Turkish-backed forces, occasional attacks by the Boko Haram terrorist

group in Nigeria, or statistics on the number of oilrigs operating in the

United States are direct risks to oil supplies that will also cause price fluctuations. Additionally in the future, the decision of the new US administration and

Joe Biden in the JCPOA agreement and the decision of the oil companies

active in the extraction of shale oil-based in Canada and the US will be

influential factors.

Factors determining world oil prices and their impact on refineries

As oil prices reach historic lows, they force oil giants to cut production

quotas to balance supply and demand. Following the announcement of

Donald Trump, the return of sanctions to the country took place and

the Iranian economy, which depends on oil exports,

suffered the most from imposing US sanctions.

 

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