What are the factors that affect the price of crude oil
3, the rise of shale oil in North AmericaThe development of shale gas in the United States has rewritten a new chapter in oil and gas, providing a new source of energy. Lower oil prices will slow shale oil and gas exploitation in other countries. But in the future, mining technology in the United States will spread to other countries and provide a new solution for energy.
2, OPEC price warThe organization of petroleum exporting countries announced on November 27th that it did not cut production, the news came out to accelerate the decline in oil prices. OPEC's crude oil production accounts for about 1/3 of the world's oil market, which has a huge influence on the oil market. Since OPEC decided to keep oil production at 30 million barrels per day in 2011, the quota has been maintained so far. But with the rise in production capacity of non OPEC countries, OPEC's voice is declining. French bank pointed out that the future oil prices entered a new era, not by OPEC or Saudi Arabia, but determined by the price of market supply.
Mainly for the following reasons:1, the imbalance between supply and demand is difficult to shakeThe main reason for the decline in oil prices is the global oversupply of crude oil. On the one hand, the major oil producing countries to step up production, on the other hand, the global economic slowdown to suppress demand for crude oil.
