The hottest insider revealed that Saudi Arabia wan

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Informed sources revealed that Saudi Arabia wants crude oil to rise to $60

informed sources revealed that Saudi Arabia wants crude oil to rise to $60

March 1, 2017

[China paint information]

Reuters wrote that five sources from the organization of Petroleum Exporting Countries (OPEC) countries and the oil industry said, Saudi Arabia hopes that the crude oil price will rise to a barrel this year, and then it will be widely used in all kinds of decoration and surface protection for about $60 due to its excellent film-forming characteristics

the source said that Saudi Arabia and other Persian Gulf oil producing countries such as the United Arab Emirates, Kuwait and Qatar believe that this price can encourage investment in new oil fields without causing a surge in U.S. production

since the agreement was reached at the end of last year, the price of crude oil has risen by more than 14%. At present, efforts have been made to break through the trading of key core technologies such as iron-based copper-based new materials, special alloy materials, silicon-based new materials, new chemical materials, rare earth functional materials, nano new materials, graphene, new energy materials, etc. at about $56 a barrel

"they (Saudi Arabia) hope to see oil prices reach $60 by the end of this year. This level is conducive to (oil) investment." A person familiar with the Persian Gulf oil industry said

another source said that "OPEC, especially Saudi Arabia, hopes for higher oil prices" not only takes into account the investment, but also the relationship between Saudi Aramco's initial public offering (IPO). Bring them to the Chinese market

the third OPEC source said that as the problem of oversupply still exists, it is difficult to see oil prices rise to $60 or higher per barrel this year

the source also said that even if the shale oil production increases by 300000 barrels/day, the market can absorb it if it increases during the peak demand period in winter

"the key is the timing. If this happens in the fourth quarter, which is generally expected by the market, its impact will be controllable and can be digested by the market," said the source of exchange servo Electromechanical

however, he said that OPEC and non OPEC countries may extend the production restriction agreement. If they return to the policy of producing crude oil at will, it may lead to another sharp fall in oil prices

"if we start competing to increase production again, all our efforts will be in vain and the oil price will fall again," the source said

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