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Crude oil price increases After OPEC Plus decides to maintain production until April ’16


Crude oil price increases After OPEC Plus decided to maintain production until April 2021

+ Increase in crude oil price After the oil exporting countries and allied nations Or OPEC Plus The decision to maintain production until April, 64 due to uncertainty in demand recovered from the COVID-19 epidemic. Saudi Arabia is also willing to cut oil output by 1 million barrels per day for the next one month in April.

+ The price of oil has also been driven by estimates of the coronavirus vaccine. Will help restore the world economy better. Mr. Joe Biden, President of the United States. Statement that the COVID-19 vaccine It will be enough for all citizens by May, after Merck & Co and J&J agreed to work together to produce the vaccine. It is expected to accelerate the delivery of 100 million doses of the vaccine in about a month.

+ OPEC expects global oil demand this year to rise 5.8 million bpd to 96 million bpd. From oil demand that tends to continue to recover

Gasoline price

Increased less than Dubai crude prices. After the supply in the region rose. From China’s increased gasoline exports

Diesel fuel price

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Increased less than Dubai crude prices. From lower demand from China It was also faced with increasing export pressure from China and India.

Source: Thai Oil



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