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Who will drive the oil price up? [Copy link] 中文

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Post time 2016-5-3 10:04:09 |Display all floors

It was reported that 83 oil tankers fromthe Middle East were sailing on the way back to China days ago, which meant 166million buckets of the crude oil were carried to China.

          As is known to everybody, the crude oil price has been down for around ayear. It is around 45 dollars wandering at a very low price. Obviously, theoutput of crude oil is overplus. Two huge consumers in this field China andAmerica become the focus. They have cut sharply down the amount in import inthe past year, especially America who has produced enough crude oil for itsneed.

         Every day in the first quarter, China imported 7.7 million buckets ofcrude oil on average according to the media, becoming the first biggestimporter in the world. It is because China is making use of the capability toproduce oil and tries to build more bases to expand more capability so thatmore oil can be stored. It is a national strategy plan.

         We see that the crude oil price has been up in the past weeks. Whodrives it up? Surely, China is one of them. Do you think so?  Could you predict its future?

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Post time 2016-5-3 11:37:31 |Display all floors
I don't think the price of oil will go much higher any time soon. The economic growth in China is cooling down to 6 %, Iran is getting back to the oil market (more oil), Russia cannot afford to pump any less oil because of their financial situation and the only country that could really move the price, Saudi-Arabia, is also facing fiscal problems and their producing price is the lowest, around 10 dollars a barrel, so they still make nice profit with this price.

The only reason for oil to go higher would be war in the Middle East, terrorism in Saudi oil fields or political unrest in the oil producing countries.

The west and China are moving away from oil. It is not the energy of the future.

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Post time 2016-5-3 12:53:42 |Display all floors
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Post time 2016-5-3 13:42:28 |Display all floors
mixamixa Post time: 2016-5-3 11:37
I don't think the price of oil will go much higher any time soon. The economic growth in China is co ...

The less fossil energy we use, the better environment we will have.

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Post time 2016-5-3 13:44:18 |Display all floors
seneca Post time: 2016-5-3 12:55
The only responsible action to take right now is to further reduce oil consumption,  even if oil is  ...

Profit drives them to be money-makers.

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Post time 2016-5-3 13:44:58 |Display all floors
seneca Post time: 2016-5-3 06:53
Oil in   b u c k e t s ?

Are you sure? The oil normally is transported in barrels with a stopper.  ...

Oil is transported either in a pipeline or oil tanker.

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