News of the supply side of the three continents with international oil prices rising more than a month

On Tuesday (April 20), international oil prices rose to a month's high, supported by weaker dollar support for commodity prices expectations of a decline in U.S. oil inventories. The United States is the world's largest oil consumer. But the rise in new crown cases in India has curbed the rise.

At 15:47 Beijing time, NYMEX crude oil futures rose 1.23% to $64.21/barrel; Ice Brent crude oil futures rose 1.28 per cent to $67.91 per barrel. The two cities respectively set their high since March 18 to $64.27/barrel March 17 to $67.97/barrel.

The dollar index fell to a new low of 90.877.ing economics since March 3: "the weak dollar continues to support oil commodities, although oil demand in some areas is worrying."

Preliminary results suggest that the U.S. crude distillate storage fell last week that gasoline stocks could rise, which also supported oil prices. The API EIA will release weekly oil inventory reports at 4:30 22:30 Beijing time on Wednesday (April 21), respectively.

Libyan state oil company announced Monday that port hariga's exports suffered force majeure due to budget reasons. Ing said this could reduce Libya's oil production by 280000 B / D, falling below 1 million B / D for the first time since last October.

Saudi oil exports fell to their lowest in eight months in February, suggesting that the country had met its commitment to voluntarily limit production to support oil prices, the joint organization data initiative said on Monday (April 19).

Crude oil production in March fell 1.1 percent February to 17.733 million barrels per day, slightly lower than the 1.78 million barrels / day previously forecast by NPD, according to preliminary data released by the Norwegian oil administration on Tuesday.

The IEA report released Tuesday said global energy demand is expected to increase by 4.6 per cent in 2021, surpassing 2019 levels, driven mainly by developing countries.

But the surge in new cases in India, the third largest oil importer consumer, has overshadowed hopes of a sustained recovery in global fuel demand.

Opec+ US oil production are expected to increase in the next six months, which will limit further demand growth if some countries continue to see new confirmed cases continue to grow international travel ban is loosening at below expectations.

Saeed khatibzadeh, a spokesman for the Iranian foreign ministry, said at a weekly news conference in Tehran on Monday that Iran the world powers have made some progress in how to restart the 2015 nuclear agreement on the withdrawal of the United States, that reaching an interim agreement may be a way to find a lasting solution.

Since early April, Iran the world powers have met in Vienna to discuss the steps that must be taken to address the sanctions imposed by the United States the violation of the agreement by Iran in order to allow Iran the United States to re-establish full compliance with the agreement.

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Source: International Petroleum Network